Cengiz Holding seeking investment opportunities in Balkans

Cengiz Energy aims to boost the share of renewable sources in its portfolio to 80% from 60%. The Balkans are part of the Turkish energy company’s expansion plans.

With a capacity of 4.85 GW installed in Turkey, Cengiz Holding Energy Group or Cengiz Energy (Enerji) is one of the largest electricity producers. The company, which has two gas-fired power plants in Tashkent and Sirdaryo and has started its third investment in Jizzakh, also in Uzbekistan, is looking for investment opportunities in other Turkic countries in Asia as well as in the Balkans.

Cengiz Energy has a share of renewable sources of 60% in its portfolio or 2.86 GW, the company’s President Ahmet Cengiz told Dünya. It consists of solar and wind power and hydroelectric plants. The goal is to reach 3.9 GW within five years with the photovoltaic and wind farm projects underway, or 80%, he pointed out.

Ten million customers

The utility is also active in the power sales and distribution markets. Part of Cengiz Holding, the firm said that the number of its customers in the distribution segment has topped 10 million. It covers 13 cities in four regions.

Emphasizing the rise in the importance of renewable sources all over the world, Cengiz said large companies need green energy in all steps toward the final product. To make electricity production more efficient in Turkey, the company established the country’s first hybrid energy plant.

Number of hybrid power plants increasing

Cengiz Energy is building solar power plants under its wind turbines and that way increasing the number of its hybrid power plants. The company’s president stressed that it also applied for permits for energy storage facilities.

“We will have renewable energy plants within our planned storage investments in Polatlı, Keşan, Kırklareli and Antalya. We anticipate that our entire installed power will exceed 5,800 MW in the medium term,” Ahmet Cengiz stated.

All new regulations in Turkey cover renewable energy investments, in parallel with the rest of the world, the company chief pointed out. He added that energy storage has been in demand for years now in the market, to meet the needs of the electricity grid.

Cengiz highlighted offshore investments as currently one of the hottest topics in the sector in the country.