E.ON says it could float Turkish power producer Enerjisa

DUESSELDORF - Reuters

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Germany’s E.ON has said it could float Turkish power producer Enerjisa, of which it owns 50 percent. A spokeswoman for E.ON said on April 16 there has been an agreement in principle with Turkey’s Sabancı Holding, the owner of the other half of Enerjisa, on a possible initial public offering (IPO) since 2012.

The flotation of shares in Enerjisa has been repeatedly postponed, and Sabancı said last month an IPO would come only after 2016 due to poor market conditions.

Enerjisa produces 2,800 megawatts (MW) of power in Turkey, with a goal of boosting that to 5,000 MW by 2020. It also operates three power grids covering a population of about 16 million, according to its website.

With the partnership with E.ON, natural gas import and trading activities will also be added to the business portfolio of Enerjisa as a participant in the Turkish natural gas sector, the company said on its website.