SOCAR Acquires GAMA Energy Power Plant To Strengthen Turkish Operations

In December 2025, SOCAR Türkiye completed the acquisition of the Central Anatolia Combined Cycle Gas Turbine Power Plant from GAMA Energy, marking a significant expansion of its energy generation portfolio. The transaction was formalised at the 2nd Azerbaijan–Türkiye Investment Forum in Baku and secures SOCAR Türkiye’s ownership of an 870-megawatt (MW) natural gas-fired combined-cycle facility located in Kırıkkale, central Türkiye. The acquisition was completed for approximately $225 million and includes full ownership of the power plant entity previously held by GAMA Energy and its subsidiary.

What Combined Cycle Gas Turbine Technology Is and Why It Matters
Combined cycle gas turbine (CCGT) technology integrates both gas and steam turbines to generate electricity more efficiently than conventional single-cycle gas plants. In a CCGT plant, natural gas is combusted in gas turbines to produce electricity, and the high-temperature exhaust heat is then used to generate steam that drives an additional steam turbine, yielding more output from the same fuel input. This configuration enhances thermal efficiency and lowers fuel costs per unit of electricity generated relative to simple cycle gas turbines.

For SOCAR Türkiye, the operational characteristics of combined cycle technology align with market demand for reliable and cost-efficient base load and intermediate power generation. The enhanced efficiency of combined cycle plants means they produce more electricity per unit of natural gas, which is particularly relevant given SOCAR’s integrated gas supply and trading operations in Türkiye and the broader region.

Implications for SOCAR Türkiye’s Competitive Position
The acquisition differentiates SOCAR Türkiye from competitors primarily focused on upstream hydrocarbons or downstream petrochemicals by broadening its footprint into large-scale electricity generation. SOCAR already holds substantial assets in Türkiye, including the Petkim petrochemical complex and the STAR oil refinery. Adding an 870 MW power generation asset enhances its presence across the energy value chain from supply through to generation and commercial distribution.

This strategic move strengthens SOCAR Türkiye’s ability to leverage its existing natural gas supply infrastructure—particularly given Azerbaijan’s role as a significant gas supplier to Türkiye—and convert that supply into diversified revenue streams. Ownership of a combined cycle power plant also positions SOCAR Türkiye to participate more actively in Türkiye’s electricity market, which continues to grow in response to rising energy demand and shifting generation portfolios.

Role in Energy Security and Regional Cooperation
The Central Anatolia plant plays an important role in meeting Türkiye’s electricity needs due to its sizeable capacity and reliability. Its integration into SOCAR Türkiye’s asset base supports broader objectives of energy supply security and operational resilience. The timing of the agreement during a bilateral investment forum underscores the strategic and cooperative dimension of energy investments between Azerbaijan and Türkiye.

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