Ordu Yardimlasma Kurumu (OYAK) to acquire a 51% stake in Isken Sugozu Power Plant from STEAG for $600m.

Ordu Yardimlasma Kurumu (OYAK), a supplementary occupational pension fund, agreed to acquire a 51% stake in Isken Sugozu Power Plant, a coal-fired thermal power plant in Turkiye, from STEAG, a service provider for power assets, for $600m. "We consider the acquisition of this entire facility, which holds a significant share in Türkiye's electricity production, a critical gain in terms of energy security in light of current geopolitical developments," Suleyman Savas Erdem, OYAK, General Manager.