SOCAR signs deal to acquire Gama Enerji power plant in Türkiye

Tunjay Turbandazada
Author

The State Oil Company of Azerbaijan (SOCAR) has signed an agreement in Baku to acquire the Gama Energy İç Anadolu power plant located in Türkiye.

According to Report, the agreement was signed within the framework of the 2nd Azerbaijan–Türkiye Investment Forum. The document was signed by SOCAR President Rovshan Najaf and Hakan Ahmad, head of Gama Energy İç Anadolu.

Under the agreement, SOCAR will acquire a 100% stake in the power plant, which has an installed capacity of 870 MW. The value of the transaction amounts to $225 million.

The investment is expected to strengthen SOCAR's position in energy generation in Türkiye and further deepen strategic energy cooperation between Azerbaijan and Türkiye.

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