Sabanci Invests 5.5 Billion Euros to Achieve 5000 MW Capacity

Sabancı Holding Energy Group Chairman Selahattin Hakman, expressing their objective of increasing their market shares in their sectors from reaching 10 percent by 2015 and then to 20 percent, stated that this will include owning at least 5 thousand megawatts of installed capacity and electricity distribution networks that can operate 6 million subscriptions.

Hakman expressed that to believe that environmental problems are alleviated because of the fall in demand of electricity during the recession would be a mistake. He explained that the decline of demand reduces prices and investments and the decrease of financial resources remove the competitiveness of renewable energy investments.

He continued to say that Turkey has not been able to create the necessary environment for investments that respond to the annual increase of demand by 6-8 percent since 2001 and, consequently, last summer Turkey seriously struggled to meet its energy demand. Moreover, since Turkey is a country with high rates of population growth and urbanization, the energy demand is ever increasing. There is a serious deficiency of supply to meet these demands, he added, and if the recession never occurred, then the demands between December and January of this year would not have been met.

Hakman underscored that there is no possibility for Turkey's supply of electricity to languish. There is an urgent need for investments in Turkey's energy production and energy plants and in order to meet the growing demand, renewable and indigenous resources must be developed immediately.

Despite the recession, Hakman said that Sabanci Holding is determinedly advancing toward its energy objectives without making any changes of plan. He stated: “EnerjiSa has energy plants working at 455 megawatts. This year we are expecting a turnover of energy production of 600 million lira. With the establishment of our planned 5 thousand megawatt power installation, starting in 2015 our turnover level will reach 6 million lira. In our capitol city this year the expected turnover from distribution is approximately 2 billion lira.”