BAKU, Azerbaijan, December 23. The State Oil Company of Azerbaijan (SOCAR) has signed a contract to acquire the Gama Enerji İç Anadolu power plant (870 MW) located in Türkiye for $225 million, Trend reports.
The document was signed on the sidelines of the 2nd Azerbaijan-Türkiye Investment Forum.
According to the agreement, SOCAR will own 100% of the plant.
"This investment not only strengthens SOCAR's position in the field of energy production in Türkiye but also serves to further deepen the strategic energy cooperation between Azerbaijan and Türkiye," the document notes.
Established in 1992, SOCAR engages in the comprehensive oil and gas value chain, encompassing exploration, production, processing, and exportation activities. The enterprise strategically oversees a comprehensive network of fueling stations and global assets across multiple jurisdictions, actively participates in energy market trading, and occupies a critical position within Azerbaijan’s economic framework.
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