According to its own statements, the Steag Iqony Group sold its 51 per cent stake in the Turkish power plant company Isken to the previous minority shareholder Oyak at the beginning of August. This means that the long-standing partner, which previously held 49 per cent, now has complete control over the company. With this step, the Essen-based group of companies is pursuing its goal of focusing more strongly on its home market in Germany as part of its growth strategy.
The power plant company Isken has been operating the 1,360-MW Sugözü power plant in southern Turkey near the city of İskenderun since 2003. The project was previously run as a 51/49 partnership between Steag Iqony and the Turkish group Oyak, which is now the sole owner.
„This transaction marks the end of more than two decades of extremely successful German-Turkish cooperation. We are very grateful to Oyak for the partnership and wish Isken and its employees all the best for the future“, says Dr Andreas Reichel, CEO and Labour Director of the Steag Iqony Group. „With this remarkable step, we are once again strengthening our focus on our core German market and aligning our company even more clearly with our strategic priorities. We are investing in markets and business areas where we can grow in the long term and create sustainable added value – as the recent acquisition of Uniper's district heating business impressively underscores.“
Focus on core markets
„With this sale, we are also reducing complexity within our own company, significantly improving our risk profile and creating more scope for investment in our core business“, says Nicole Hildebrand, member of the Management Board and COO of the Steag Iqony Group.
By selling its shares in the coal-fired power plant, the Steag Iqony Group is making a significant contribution to improving its carbon footprint – an important step towards its goal of climate neutrality by 2040, as Nicole Hildebrand emphasises.
The consistent reduction of emissions is a central component of the corporate strategy in the context of the energy transition. Sustainable growth and active climate protection are not contradictory, but together form the basis for corporate action.
