OMV divests Samsun power plant to Bilgin Enerji

OMV News, May 30, 2018 - 12:30 pm (CEST)

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.


Background information:
  
OMV Aktiengesellschaft
OMV is producing and marketing oil and gas, innovative energy and high-end petrochemical solutions – in a responsible way. With Group sales of EUR 20 bn and a workforce of around 20,700 employees in 2017, OMV Aktiengesellschaft is one of Austria’s largest listed industrial companies. In Upstream, OMV has a strong base in Romania and Austria and a balanced international portfolio, with the North Sea, the Middle East & Africa and Russia as further core regions. 2017 daily production stood at approximately 348,000 boe/d. In Downstream, OMV operates three refineries with a total annual processing capacity of 17.8 mn tonnes and more than 2,000 filling stations in ten countries as of year-end 2017. OMV operates a gas pipeline network in Austria and gas storage facilities in Austria and Germany. In 2017, gas sales volumes amounted to 113 TWh. 


Bilgin Enerji & Yapisan Elektrik Üretim A.Ş.
Bilgin Enerji made all its investments in the energy generation and preferred only renewable energy investments, specifically hydroelectric and wind power plants. The Company is in the pioneer position with its renewable energy investments. Bandırma WEPP of the Company, which is taken under operation in 2006, is the first private sector wind energy power plant in Turkey. The first private sector hydroelectric power plant investment, Hacılar HEPP, is also realized by Bilgin Enerji and taken under operation in 2003. 
397 MW being wind energy and 477 MW being hydro energy, with a total installed power of 874 MW under operation, Bilgin Enerji is significantly contributing to Turkey’s economy with its renewable energy generation. The total generation of the power plants corresponds to more than 1% of the Turkey’s electricity consumption.
Yapisan, a 100% owned subsidiary of Bilgin Energy, holds six hydro (three from affiliates, 477 MW in total) and two wind power plants (82 MW).