SOCAR Türkiye Acquires GAMA Energy Gas Power Plant

On December 23, a signing ceremony took place in Baku for the agreed sale and purchase agreement between SOCAR Türkiye, Türkiye’s largest direct foreign investor and an integrated industrial group, and GAMA Energy A.Ş.

The parties signed the agreement during the 2nd Azerbaijan-Türkiye Investment Forum, held within the framework of the 12th meeting of Azerbaijan-Türkiye Intergovernmental Commission on Economic Cooperation, The Caspian Post reports, citing local media.

Under the agreement, the parties completed the transaction for the Central Anatolia Combined Cycle Gas Turbine Power Plant, located in Kırıkkale, Türkiye.

With an installed capacity of 870 MW, the Central Anatolia Combined Cycle Power Plant plays a strategically important role in Türkiye’s electricity supply security. Through this acquisition, SOCAR Türkiye continues to strengthen its existing energy supply and trading operations and to build an integrated, sustainable, and competitive value chain that combines production with commercial activities.

Commenting on the transaction, SOCAR President Rovshan Najaf stated:

“As SOCAR, we shape our investment decisions in our friendly and brotherly country of Türkiye based on long-term strategic objectives and the principle of sustainable value creation. We believe that this acquisition will enhance the long-term market resilience of SOCAR Türkiye. Through this investment, we are taking an important step within our strategy for electricity generation from natural gas, aiming both to contribute to the Turkish economy and to ensure a more efficient utilization of natural gas for our group of companies.”.

This investment also aims to further strengthen SOCAR Türkiye’s position in the energy market across the entire value chain-from production to end consumer-while ensuring optimization in portfolio management, operational requirements, and economies of scale.