OMV Completes Turkish Power Sale

Austria's OMV said September 6 it had concluded that day the divestment of its Samsun power plant to Yapisan Elektrik Uretim, a subsidiary of Ankara-based leading supplier Biljin Energi.

The agreement to sell the modern 890 MW gas-fired power plant in northern Turkey was signed on May 30 2018.  

Since then at least one other west European energy firm with assets in Turkey has said it is considering divesting them, citing currency and commodity price risks. The Turkish lira has fallen by over 20% in value against the US dollar in the past month, with the US threatening to step up economic sanctions against Turkey, and the latter under US pressure over its trade relationship with Iran.