The significant increase in demand for electricity paralleling
the Turkish economic and industrial growth has opened
the way for the strategic interest of Turcas Petrol (Turcas)
in the power sector.
Turcas united its existing and future power generation,
trading and distribution subsidiaries under the umbrella
of a sub-holding company. To this end, title of its whollyowned
subsidiary, Marmara Petroleum and Refining was
changed to Turcas Energy Holding.
Turcas Energy Holding aims to be one of the top energy
companies in and around Turkey with investments and
subsidiaries in the fields of power generation, trading and
distribution, and to go public via capital markets as an
integrated power utility.
Electricity Generation and Trading
Turcas Energy Holding is a 97.5% shareholder of Turcas
Power Generation (TPG), a 67% shareholder of Turcas
Power Trading (TPT), a 99.992% shareholder of Turcas
Wind Energy Generation and a 30% shareholder of RWE
& Turcas North Power Generation. The rest of the shares
of TPG and TPT, respectively 2.5% and 33%, belong directly
to Turcas Petrol.
Electricity Distribution
Regarding the electricity distribution business, Turcas
formed a strategic cooperation with one of Europe's largest
energy companies, Iberdrola of Spain, and signed a
Shareholders Agreement on May 30, 2007, in order to
jointly participate in the privatizations of electricity
distribution regions to be tendered by the Privatization
Administration of Turkey as a consortium. According to
this agreement, Iberdrola will own 70% and Turcas will
own 30% of the companies to be established upon
successful tendering process.
Since privatization of the electricity distribution companies
was postponed at the beginning of 2007, Iberdrola &
Turcas Consortium continued to develop and update the
projects during this period but did not participate in the
privatizations in 2008 and 2009. However, the consortium
initiated regular meetings in view of the probability of
the Government starting the privatizations in 2010-2011
for the distribution companies of interest. The partnership
follows the announcements on the subject to come from
the PA.
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| Company Profile |
Paid-in Capital
56.000.000 TL
Ownership Profile
%100 Turcas Petrol A.Ş.
Board of Directors
Erdal Aksoy - Chairman
Yılmaz Tecmen - Vice Chairman
Banu Aksoy Tarakçıoğlu - Member
S. Batu Aksoy - Member
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