Enerjisa Enerji Uretim A.S.

active

EnerjiSA is a 50:50 joint venture formed in May 2007 by H.O. Sabanci Holding A.S. (Sabanci) from Turkey and Österreichische Elektrizitätswirtschafts-Aktiengesellschaft (Verbund) from Austria. Sabanci is one of the leading industrial and financial conglomerates in Turkey, and Verbund is the largest vertically integrated electricity group in Austria. The joint venture will develop and operate a generation portfolio of hydropower, gas, coal, and wind power plants, as well as distribution and supply and wholesale/trading. IFC’s funds would not be used for any nuclear power investments by the company.Through its own development, EnerjiSA currently owns and operates four natural gas-fired combined cycle and combined cycle-cogeneration plants (65 to 120 MW electricity capacity), and as a result of acquisitions owns and operates four hydroelectric power plants with capacities ranging from 7 to 48.5 MW. The project is to finance the first phase of EnerjiSA’s capital investment program, covering the 2008 to 2012 period. The first phase envisions the construction of the 933 MW Bandirma natural gas fired thermal power plant in western Turkey adjacent to the Marmara Sea, and – according to current planning – ten hydroelectric power plants with total capacity of 972MW, including Cambasi (45 MW) in the Solakli River basin in northern Turkey; Kusakli (29MW), Kavsakbendi (175 MW) Yamanli II (79 MW), Kopru (120 MW), and Menge (55 MW), located in the Seyhan River basin in the south of Turkey; and Dagdelen (11MW), Kandil (214 MW), Hacininoglu (142 MW), and Sariguzel (103 MW), located in the Ceyhan River basin in the south-east of Turkey. A technical and economic optimization of the individual projects is going on. For the subsequent phases of its long-term capital investment program, EnerjiSA continues to identify additional power generation projects and is in the process of acquiring new hydropower generation licenses and studying coal reserves for coal fired thermal plants.