Turcas Energy Holding
Recognizing the significant rise in demand for electricity and natural gas, and the potential of these two markets in parallel with Turkey’s economic development and growth, Turcas Petrol renamed its subsidiary Marmara Petroleum and Refining, which was founded in 1958, to Turcas Energy Holding in 2008, thus consolidating its related subsidiaries under one roof. Turcas Energy Holding’s objectives are to diversify its portfolio by investing in power generation and trading both in Turkey and the region; become a leading energy company; and to go public in the capital markets.
Power Generation and Wholesale
Turcas Energy Holding is a:
- 97.5% shareholder of Turcas Power Generation (TEÜAŞ), which owns a 30% equity stake in RWE & Turcas South Power Generation;
- 67% shareholder of Turcas Power Trading (TETSAŞ);
- 100% shareholder of Turcas Renewable Energy Generation (TYEÜAŞ);
- 46% shareholder of BM Kuyucak Geothermal Power Generation.
The remaining shares of TEÜAŞ and TETSAŞ, 2.1% and 33%, respectively, are held by Turcas Petrol. The main objectives of Turcas Energy Holding and its subsidiaries are:
- To develop projects related to power generation and to build or acquire power plants;
- To become one of Turkey’s pioneering producers through a diversified portfolio.
While expanding the scale and scope of its businesses, Turcas Energy Holding focuses on generation projects based on various resources that include wind, natural gas, geothermal,hard coal, lignite, other liquid fuels and hydro. As of year-end 2013, the Holding had an installed equity capacity of 232.5 MW through the Denizli Natural Gas Fired Plant.