In an interview with ČTK on Thursday, ČEZ financial director Martin Novák stated this.
ČEZ entered the Turkish energy market in 2008. It currently holds a fifty percent stake in the company Akcez Enerji, through which it has assets in distribution and sales companies Sakarya Elektrik. The company also has a roughly 40 percent stake in Akenerji Elektrik Üretim, which operates several hydroelectric power plants, the Ayyildiz wind park and the Egemer steam-gas power plant in eastern Turkey.
The company started the sale of Akcez Enerji last summer and should complete it soon. “The main stumbling block in this transaction was financing for the buyer, but that should be resolved by now. It was also agreed to take over the guarantees that ČEZ has there,” Novák said. He believes the deal should be completed by the end of the year. He did not provide financial details or the name of the buyer.
CEZ’s profit fell by 43 percent year-on-year
Even after that, however, CEZ will still be active in Turkey. The sale of the second company, Akenerji Elektrik Üretim, is not so close yet. However, ČEZ also wants to address its future. “It’s now more a question of the market,” noted Novák. According to him, the performance of Turkish companies covers their operation, but they cannot be expected to make a significant contribution. In this context, Novák recalled that Turkey is a complex market, especially due to the high inflation there and the decline of the Turkish lira.
He also wants to get rid of assets in Poland
Together with the Turkish companies, ČEZ wants to further dispose of its production assets in Poland, where it has the Skawina and Chorzów coal-fired power plants. The reason is the company’s strategy to limit production from coal in the future. In the past, ČEZ already tried to sell Polish power plants, but stopped the transaction two years ago due to unattractive offers.
“There is no official process going on there at the moment. Bilateral negotiations are taking place, but no sales process is on the table right now. But it is still true that we want to get rid of these assets in Poland,” Novák added.
However, ČEZ does not want to leave the Polish market completely, according to Novák, it plans to continue expanding in the so-called ESCO services, which are modern energy services.
In addition to the Czech Republic, ČEZ currently operates in six other countries, namely Slovakia, Germany, France, Poland, Romania and Turkey. In the future, the company wants to develop especially modern energy abroad as part of ESCO services, as well as production from renewable energy sources.
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2023-11-09 10:49:18
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