Energy

Energy investments are one of Doğan Holding’s core business lines. The Holding has been operating in the energy industry in the gasoline and LPG distribution, oil exploration and production, and power generation sectors since 2000.

Doğan Holding managed its oil and gas distribution and production activities under Petrol Ofisi from 2000 until the end of 2010. In accordance with its decision to invest in new areas after divesting its stake in Petrol Ofisi at the end of 2010, the Holding focused its attention on other energy production and distribution investments. Doğan Holding is monitoring the opportunities in Turkey and its immediate region.

Doğan Enerji

Doğan Enerji was incorporated to engage in the production, transmission, distribution, domestic and international as well as wholesale and retail trading of energy supplied from any source.

Through the 50% ownership stake it has acquired in Gas Plus Erbil in 2009, the Company has an ultimate shareholding of 20% in the oil exploration field in Northern Iraq. Test production began in the Bastora-1A well in 2011 and the Field Development Plan was filed with the Regional Administration in 2011. Field development investments and test production is planned to continue in 2012.

Doğan Enerji owns 33% of Boyabat Elektrik Üretim ve Ticaret Anonim Şirketi. Construction is currently underway for the Boyabat Dam and HEPP project, for which an electricity generation license was obtained from the Energy Market Regulatory Authority of Turkey (EPDK) on November 13, 2007. The Boyabat Dam and HEPP project is expected to commence production in the third quarter of 2012 and start operating with full capacity by the end of 2012. With an installed capacity of 513 MW, the Boyabat Dam and HEPP project is one of the largest private sector power plants built in Turkey. The approximately 1.5 billion kWh of electricity to be generated annually from the project is expected to play a significant role in reducing Turkey’s dependence on foreign energy.

With an installed capacity of 120 MW, the Aslancık project is situated on the Harşit Brook within the borders of the districts of Doğankent and Tirebolu, in the province of Giresun, in the Eastern Black Sea Region. Owned 25% by Doğan Holding and 8.33% by Doğan Enerji, Aslancık Elektrik Üretim A.Ş received an electricity generation license from the Energy Market Regulatory Authority of Turkey (EPDK) on March 20, 2008. The project is currently under construction and is scheduled to be commissioned in the second half of 2013.

Furthermore, as of the end of 2012, the process of acquiring the shares representing the entire capitals of Akdeniz Elektrik Üretim A.Ş. and Galata Wind Enerji Limited Şirketi has successfully been completed. So, the shares representing the entire capitals of Mersin Wind Energy Plant (Mut/Mersin), with an installed power of 33 MW [and with an additional capacity increase of 9 MW underway], and Galata Wind Enerji Limited Şirketi in charge of the operation of Şah Wind Energy Plant (Bandırma/Balıkesir) with an installed power of 93 MW [and with an additional capacity increase of 12 MW underway] were acquired and taken over by Nakkaştepe Elektrik Üretim ve Yatırımları Sanayi ve Ticaret A.Ş., owned 99.99% by Doğan Enerji Yatırımları Sanayi ve Ticaret A.Ş., in whose capital we hold 99.99% shares. When the additional capacities are completed, the approximate annual generation of both plants is expected to be
around 500 million kWh.