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$ 70 billion has been invested in the privatized energy sector in Turkey.

October 11, 2016

President of Sabancı Holding Energy Group and Chairman of the Board of Enerjisa, Mehmet Göçmen, said that since privatization of energy distribution and retail, a total of $70 billion have been invested into the industry.


President of Sabancı Holding Energy Group and Chairman of the Board of Enerjisa, Mehmet Göçmen, stated that since the process of privatization started in Turkey, energy distribution and retail companies have invested $70 billion into the sector. Speaking at the World Energy Council’s (WEC) “Energy Sector Reform: Competition and opportunities” session, Göçmen said the following, “At Enerjiza, a partnership of Sabancı Holding and E.ON, we are Turkey’s largest player in the private sector. This journey started in 2007 for us. Since then, we have made investments worth $11 billion. 60% of this amount was spent for generation expenses. We have allocated $5 billion of it for distribution networks and retail.”

'WE ARE HAND IN HAND WITH THE GOVERNMENT'

“There’s the term cohabitation,” Göçmen continued . “It’s used to describe the concept of ‘living together’. This is how we live in Turkey alongside the state; we are in a hand in hand. Because the state is in charge of rates and it has a very strong existence. There is much to do here in terms of liberalization. Free consumer limits should be reduced. Lowering the prices is ok to a certain extend. Because then nobody makes any investments. It is necessary to maintain the balance, in other words, it needs to be sustainable.”

Underlining that the industry is very fragmented in Turkey, Göçmen stated that Enerjisa is the largest electricity generator, but that its share in the total generation is below 5%. Göçmen noted that the state makes more than 50 percent of the generation, while there are hundreds of players in retailer.

TURKEY HAS HUGE POTENTIAL

Explaining that Turkey has problems such as lack of efficiency and foreign trade deficit, Göçmen continued: “We’re still very dependent on fossil fuels; we are importing them. We need to eliminate the use of them. During this process it’s essential that the private sector remains and continues its investment. However, one more thing should not be forgotten; Turkey still has a huge potential. The gains that can be made from Turkey achieving energy efficiency are highly significant. The investments that we’ll make in terms of demand are as valuable as those that we’ll make in terms of supply. We must make efficient use of energy in every area from generation to consumption.
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