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Turkey’s energy sector is one of the fastest growing energy markets in the world, owing to rapidly growing demand and investment requirements, in parallel with a steadily growing economy and rapid urbanization. It is also coming under the spotlight not only for domestic investors but for foreign investors too.
The Turkish energy sector has attained a competitive structure following deregulation, which commenced during the 80s and gained momentum through the Electricity Market Law and Natural Gas Market Law enacted in 2001. The public sector’s share in the energy sector has been reduced, and a competitive market structure was created by means of privatization works, which have been accelerated with the Electric Energy Sector Reform and Privatization Strategy Document published in 2014, in addition to the liberalization of the energy market. Power Exchange (EPİAŞ), which is expected to become operational in 2015, will contribute further to the opening up of the market, and moreover it will provide liquidity and transparency. It will further help in establishing a healthy balance between supply and demand.
Turkey’s power demand grew annually by 6 % over the last decade, reaching 255,490 GWh as of 2014 year-end, and the country has one of the fastest growing electricity markets in the world.
49 % of total electricity generation in 2014 is met by natural gas power plants, followed by coal power plants with a share of 29 %, and hydroelectric power plants take third place, meeting 16 % of power generation.
Private sector electricity producers boosted their share of Turkey’s total electric energy installed capacity from 25 % to 55 % in the last five years, and reached 38,218 MW of Turkey’s total installed capacity of 69,517 MW, recorded as of 2014 year-end.
Akenerji is the first power generation company founded as an auto-producer group in Turkey. As one of the biggest players of Turkey’s energy sector, Akenerji is an integrated energy company operating in wholesale electricity sales in addition to power generation, with over 25 years of experience in the sector. 25 % of the Company’s shares have been offered to the public since June 2000, and Akenerji shares began to trade on the Istanbul Stock Exchange (called Borsa İstanbul after 2013).
The partnership between Akkök and the Czech power company ČEZ evolved into an equal-part strategic joint venture in Akenerji, with an agreement signed in October 2008.
Since 2005, Akenerji has concentrated on generation investments based on renewable power resources, to attain resource diversity in power generation. Ayyıldız Wind Power Plant is the first power generation facility to become operational in the renewable energy area. It boastsa renewable power resource based generation capacity of 388 MW in total, by means of 8 hydroelectric plants that it gradually brought into operation.
In 2015, Akenerji focused especially on utilizing capacity expansion opportunities for the renewable source power plants, and thus it commenced works to enhance Ayyıldız Wind Power’s installed power from 15 MW to 28.2 MW
After Egemer-Erzin Natural Gas Combined Cycle Power Plant, which alone has the capacity to meet 2.6 % of Turkey’s power need, started operations in July 2014, Akenerji’s total generation capacity rose 2.5 fold, reaching 1,211 MW.
Upon completion of Kemah Hydroelectric Power Plant, which is currently in the project phase and is expected to generate approximately 560 GWh of electricity per annum, Akenerji alone will be generating a considerable part of Turkey’s power generation.