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Türkiye OYAK Group BV/D steel recently completed the acquisition of the remaining 51% equity of ISKEN Sug ö z ü power station, realizing the full control of the power station. The annual power generation of ISKEN Power Station is about 9 billion kilowatt hours, accounting for about 2.6% of Türkiye's power demand. It is an important energy supply support in the southern Cukurova region. Against the backdrop of increasingly prominent geopolitical risks and energy security issues, this acquisition is seen as a key measure for OYAK to ensure stable energy supply and reduce operational risks.
At the same time, OYAK is accelerating the pace of green energy transformation. It has put 21.12 MW photovoltaic BV/D steel power generation project into operation in the power station, and plans to expand the capacity to 57 MW. At the same time, it plans to arrange solar energy projects in 25 regions of 14 provinces in Türkiye, and plans to achieve a total installed capacity of 2200 MW by the end of 2028, with an estimated annual power generation of 3.5 million MWh. This layout will not only help meet the group's energy self-sufficiency needs, but also reduce carbon emissions, laying the foundation for future responses to the EU CBAM carbon border adjustment mechanism.
The management of OYAK stated that this acquisition is in line with the group's long-term sustainable development strategy, with an expected payback period of approximately 6.5 years. The short-term costs are more focused on energy security and future competitiveness. With the acceleration of global green transformation, OYAK is expected to further consolidate its competitive position in Türkiye's steel industry chain by strengthening investment in renewable energy and continuously improving energy structure BV/D steel elasticity and supply security.
