Facing bailout requirements leading to electricity market share contractions, at production and retail levels, the main power utility PPC is seeking to increase its presence abroad, including in Turkey, a market possessing particular interest for the utility, especially its hydropower and RES sub-sectors.
The efforts of PPC Elektrik Tedarik ve Ticaret Anonim Sirketi, PPC’s wholly owned subsidiary in Turkey, will be pivotal in the utility’s Turkish market aspirations.
The recent appointment of PPC Renewables managing director Ilias Monaholias as the Turkish subsidiary’s deputy chief reflects PPC’s intentions in the neighboring market.
PPC is moving fast in its effort to gain a presence in the Turkish market. Earlier this week, the Greek power utility’s board endorsed PPC Elektrik’s business plan for 2017 to 2019, including its participation in a tender concerning Turkey’s Manyas hydropower facility (photo).
The 20-MW capacity Manyas facility is one of ten Turkish hydropower plants EUAS, the state power utility, plans to privatize. Their overall capacity amounts to 256.4 MW. Bidders face an August 21 deadline for the tender offering the Manyas hydropower unit, located in the Marmara region.
It remains to be seen whether PPC will submit new bids for the Menzelet and Kilavuzlu units, possessing respective capacities of 124 MW and 54 MW and included in Turkey’s sale package of ten hydropower units.
Both these facilities were also put up for sale through unfinalized tenders last year. PPC had taken part in both sale prodecures. No reasons were announced for their interruption.
PPC is also exploring investments in Turkey’s RES sector, currently experiencing robust growth. “Our objective is not only the exchange of knowhow, but, primarily, the penetration of PPC Renewables into new emerging markets,” noted Monaholias, the PPC Renewables chief, adding that an extremely ambitious investment plan has also been prepared for the Greek market.