SOCAR Strengthens Position in Turkey's Energy Sector

The State Oil Company of Azerbaijan Republic (SOCAR) has signed a contract to acquire the 'Gama Energy İç Anadolu' power plant located in Turkey.

According to Oxu.Az, the agreement was signed during the Azerbaijan-Turkey second investment forum.

Under the terms of the contract, SOCAR will become the 100% owner of the power plant, which has a capacity of 870 MW. The transaction is valued at $225 million.

This investment not only strengthens SOCAR's position in Turkey's energy sector but also deepens the strategic energy cooperation between the two countries.