EnBW and Ciner decide on a joint venture in the Turkish electricity market

Karlsruhe. EnBW Energie Baden-Württemberg AG and the Ciner Group, a leading Turkish industrial conglomerate, signed a letter of intent on cooperation in the Turkish electricity market. The objective of the joint venture is to open up the whole value added chain together in the area of electricity supply in a vertically integrated structure. As a first step, the business partners will participate in the bidding process for the electricity distribution companies Ayedas, Baskent and Sakarya.

EnBW has about 20,000 employees and 5 million customers, making it the third-largest energy company in Germany. EnBW is very well positioned in Europe with its investments in Poland, the Czech Republic, Hungary, Austria and Switzerland and has many years of experience in the European energy market. Turkey plays an important role for EnBW within the scope of its growth strategy for Europe. EnBW would like to create fresh impetus for the company to grow in Turkey, a country with more than 75 million inhabitants.

The Ciner Group is a Turkish industrial conglomerate with more than 13,000 employees, which focuses its activities on the areas of energy, mining, tourism and the media. The group of companies, which is largely managed privately, includes, among others, the second-largest media conglomerate in Turkey which owns numerous Turkish television stations, radio stations and newspapers. The reason given by Ciner for their success in the energy and mining sector is the successful investments made in previous Turkish privatisation projects in the early 1990s. Today the company operates, among other things, a 620 MW lignite-fired power plant and plans to increase total power plant capacity by a further 2000 MW by 2010.