17:21 - 6.05.2025

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May 6, Fineko/abc.az. The State Oil Company of Azerbaijan (SOCAR) is negotiating the purchase of a combined cycle power plant in Turkey.

ABC.AZ informs, citing TV channel Bloomberg HT, that SOCAR has submitted an offer worth $225-250 million for the purchase of the Central Anatolian Combined Cycle Power Plant with capacity of 870 MW, owned by Turkish company Gama Enerji A.Ş.

The parties agreed to continue negotiations based on this proposal.

The acquisition of the power plant will create alternative opportunities for SOCAR to strengthen the company's position in the growing Turkish electricity market and generate additional income.

According to sources, SOCAR has not yet submitted a legally binding proposal, and a possible agreement may enter into force after approval by the boards of both companies.