Press

OMV Divests Samsun Power Plant to Bilgin Enerji


OMV, the international integrated oil and gas company based in Vienna, has reached an agreement to sell OMV Samsun Elektrik Üretim Sanayi ve Ticaret A.Ş. to Yapisan Elektrik Üretim A.Ş., a subsidiary of Bilgin Enerji, based in Ankara. The parties have agreed not to disclose the consideration. The transaction is subject to the approval of the Turkish competition council and other Turkish authorities. Closing is expected in Q4/18 at the latest.

Samsun Elektrik Üretim A.Ş. runs a gas-fired cycle power plant with a capacity of 890 MW in Terme, Samsun Province, Turkey. The plant commenced operations in 2013.

Manfred Leitner, OMV Executive Board Member for Downstream: “ The divestment of the Samsun power plant is in line with OMV's strategy 2025 to further optimize its portfolio. It is the final step in the strategic target to reduce the exposure of the nonintegrated power business.”

Bilgin Enerji CEO, Tolga Bilgin: “By acquiring one of the most efficient and flexible gas-powered plants in Turkey, we will have the ability to balance our renewable energy portfolio. Our share in the Turkish electricity market will increase substantially and our total installed capacity will be 1,760 MW.”

OMV will remain in Turkey with its energy sales & trading business.



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