Doğan Holding
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Electricity Investments

Electricity InvestmentsDoğan Holding has identified electricity, a vital need for fast-growing Turkey, as a key investment area. Closely monitoring the electricity supply issue Turkey faces and the investment environment provided by the government, Doğan Holding continues to pursue a range of electricity generation projects. These include hydroelectric power plants, nuclear power plants, and utilization of local lignite sites for electricity generation purposes, thermal power plants fueled by imported coal, green field and existing natural gas power plants, wind power plants, and geothermal power plants.

Doğan Enerji Yatırımları Sanayi ve Ticaret A.Ş. (Doğan Enerji), a participation of Doğan Holding, was incorporated to engage in the generation, transmission, distribution, domestic and foreign trading of energy supplied from any source on a wholesale or retail basis.

Doğan Enerji acquired a 33% stake in Boyabat Elektrik Üretim ve Ticaret Limited Şirketi. Construction is currently underway for the Boyabat Dam and HEPP Project, for which an electricity generation license was obtained from EMRA on 13 November 2007. Initially, a turnkey construction agreement was made with Doğuş Construction on 28 November 2008 for the project. With the mobilization and excavation phases now completed, the dam body concrete casting is now in progress. The Boyabat Dam and HEPP Project will be commissioned and begin electricity generation operations in November 2012.

Electricity InvestmentsWith an installed capacity of 513 MW, the Boyabat Dam and HEPP Project is one of Turkey’s largest private power plants constructed by the private sector. The approximately 1.5 billion kWh that will be generated annually under the project is expected to play a significant role in reducing Turkey’s dependence on foreign energy. The project is fully financed and the loan agreement has been executed.

The Boyabat Dam and HEPP Project is also a significant contributor to the national economy. Almost 1,200 people have been employed in the ongoing construction work as of this year, and that number is expected to increase to 2,000 in the coming years.