OYAK acquired full ownership of İSKEN Enerji by purchasing 51 % of the shares from Germany-based Steag Power GmbH, bringing the electricity generation share of İSKEN Enerji (which produces about 3 % of Türkiye’s total electricity) entirely under OYAK’s control.
In July 2025, the parties reached an agreement, and the formal signing took place at a ceremony held in Madrid. Attendees included OYAK Energy Companies Chairman of the Board Yüksel Yılmaz, İSKEN Enerji Chairman of the Board Uğur Doğan, Steag Power GmbH Supervisory Board Chairman Philip Wack, and Steag Power GmbH Legal Counsel Dr. Niels-Jacob Küttner.
Along with this acquisition, the company operating İSKEN’s port and handling activities also came entirely under OYAK’s control.
A Strategic Step for Türkiye’s Energy Supply Security
OYAK General Manager Murat Yalçıntaş stated that they regard energy security not merely as an investment field but as a responsibility toward Türkiye’s future, and said:
“İSKEN, by meeting about 3 % of Türkiye’s electricity production on its own, plays a critical role in the country’s energy supply security. Bringing this important facility into national hands and turning it into an asset for our country reflects our vision in the energy sector.”
Yalçıntaş further emphasized that OYAK’s energy investments align directly with Türkiye’s sustainable development goals, adding:
“Energy is a fundamental element of economic independence and the sustainability of industry. In this domain, our aim is not only to increase production capacity but also to support environmental and technological transformation and to build a long-term value chain. We prioritize responding to Türkiye’s growing energy demand with reliable, efficient, and environmentally conscious solutions.”
Energy Base on Türkiye’s Mediterranean Coast
Operating on the İskenderun-Dörtyol coast in southern Türkiye, İSKEN Enerji’s facility has an installed capacity of 1360 MW and produces an average of 9 billion kilowatt-hours annually, meeting approximately 3 % of Türkiye’s total electricity production. On the plant site, there is also a 27 MW solar power plant.
Together with subcontractors, İSKEN Enerji provides employment to around 1,000 people and contributes significantly to both the regional and national economy of Türkiye.
