Clifford Chance advises STEAG Power GmbH on sale of 51% stake in İSKEN to OYAK

Global law firm Clifford Chance has advised STEAG Power GmbH, a leading Germany-based energy company, on the sale of its 51% stake in İSKEN to OYAK, one of Türkiye’s foremost industrial groups. Following completion of the transaction, OYAK has become the sole owner of İSKEN Sugözü Power Plant, which supplies approximately 3% of Türkiye’s total electricity demand.

İSKEN Sugözü Power Plant, with an installed capacity of 1,360 MW, is a key contributor to Türkiye’s energy supply and a significant socio-economic actor in the Çukurova region. The transaction marks a major development in the Turkish energy sector, reflecting ongoing consolidation and strategic investment activity in the market.

The team involved partner Itır Çiftçi, senior associate Deniz Yetkin and associates Aysu Gürbüz and Sena Cengiz, with support from Alex Cook on UK law matters The Clifford Chance Düsseldorf office also supported the team with partner Anselm Raddatz and senior associate Yannick Niedergethmann on German law aspects.