The German energy company Steag Power GmbH plans to sell the largest coal-fired power plant in Turkey amid the abandonment of coal-fired fuels in favor of environmentally friendly energy sources. This is reported by foreign media.
The value of the proposed transaction may amount to $600 million.
Steag, controlled by the Spanish investment company Asterion Industrial Partners, intends to sell a 51% stake in the Turkish company Iskenderun Enerji Uretim ve Ticaret AS (Isken), which operates the Sugozu coal-fired power plant with a capacity of 1,320 MW in southern Turkey. The remaining 49% of Isken shares belong to the energy division of the Turkish military pension fund OYAK.
The Sugözü power plant provides 3% of electricity consumption and is one of the largest international investments in Turkey.
Steag intends to abandon the use of coal by the end of the decade. Unlike Germany, Turkey plans to expand the use of coal fuels as part of an energy strategy that aims to increase capacity from 21.1 GW to 24.3 GW by 2035. In 2024, Turkey overtook Germany to become Europe's largest producer of coal-fired electricity.
Steag Power GmbH is a German company for the management of district heating networks. The company provides coal-fired electricity generation and transmission, as well as power plant management and maintenance. The asset portfolio also includes coal-fired power plants in six regions of Germany. The headquarters is located in Saarbrücken (Germany).
Asterion Industrial Partners is a Spanish independent investment company in the field of European infrastructure projects in the telecommunications, energy, utilities and transport sectors. The headquarters is located in Madrid (Spain) with offices in London (England) and Paris (France).
Iskenderun Enerji is a Turkish company for the development and operation of small power plants in Turkey. The company offers a wide range of services, including project development and management, management and technical expertise. The headquarters is located in Istanbul (Turkey).
Read also in our Telegram channel "Mergers and acquisitions. AK&M».
