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AES becomes a partner with Koç Group’s electrical power generation company ENTEK A.Ş.

Aygaz, one of the Koç Group’s leading companies in the energy sector, signed a partnership agreement for the purpose of cooperation with AES, one of the world’s leading energy companies, in the area of electrical power generation. Within the framework of the partnership, which will be concluded by selling AES a 49.6% stake in ENTEK Elektrik Üretim A.Ş., an Aygaz subsidiary, the goal is to be among the top five players in the market within the next five years by investing in electrical power plants that operate with natural gas, coal, hydro-power and other renewable resources.

In his remarks at the signing ceremony, Koç Holding Board of Directors Chairman Mustafa V. Koç said that their leadership in the energy sector was becoming stronger with each passing day. Koç said that to date foreign investment has supported Turkish investment and that they had successfully developed numerous foreign partnerships. He described their new partner AES as a strong, global player. He said that they were combining the international experience of AES with the strength and experience of the Koç Group in the energy sector in the region within a framework of the common belief, excitement and vision they had for the Turkish electricity market.