The State Oil Company of Azerbaijan (SOCAR) has signed an agreement in Baku to acquire the 870-MW “Gama Enerji İç Anadolu” power plant in Turkey from Turkish company Gama Enerji.
According to Vesti Baku, the agreement was signed during the 2nd Azerbaijan–Turkey Investment Forum.
The deal was signed by SOCAR President Rovshan Najaf and Gama Enerji CEO Hakan Ahmed Özman.
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Under the agreement, 100% ownership of the 870-MW power plant will be transferred to SOCAR. The value of the transaction amounts to $225 million.
The investment is expected to strengthen SOCAR’s position in Turkey’s power generation sector and further deepen strategic energy cooperation between Azerbaijan and Turkey.
