CEZ-Akenerji Consortium Successfully Bids for Sedas

Czech electricity generator CEZ, in partnership with Akenerji Elektrik Uretim, has successfully bid at the auction of the Turkish power distribution company, Sedas.

Subsequently, Akenerji Elektrik Uretim and its parent company Akkok Sanayi Yatirim, along with CEZ will establish a joint venture called AkCez OGG.

CEZ will account for 50% of the authorized capital, Akenerji will own 45% and Akkok will own a 5% stake. Sedas supplies 1.3 million customers with nearly 8TWh of electricity, while 50% of the customers are industrial consumers.

Martin Roman, chairman and CEO of CEZ, said: “Obviously, we are really pleased with the success in Turkey. It represents important progress in our foreign expansion and it is positive news for our investors, who will surely appreciate our connection to a strong local partner. We find the Turkish energy sector very attractive for us.”