Holding Overview

Enda Energy Holding Co. was founded on 7 January 1993 with 10 partners which has currently increased to 182 partners. Registered under the trading licence number 66068 K 5528 at Izmir Trading Registry Office, ENDA has its headquarters at Şehit Nevres Bulvarı No: 10 Deren Plaza K:7 Montrö Konak Izmir, Turkey.

Together with its affiliated partnerships, ENDA’s fields of activity and interests in its capacity as an investor is to produce, sell and trade electricity by developing and investing in energy production projects and operate power plants from renewable resources using any available production technology.

clean energy produced at its plants to RESM and to Energy Markets as per bilateral agreements based on an environmentally friendly and professional administrative approach.

nwhile, since 2004, ENDA continues sales to Independent Consumers at a professional level which is now handled by its Power Supply company Ensat Electricity Energy Supply Trade Co. that was founded in 2016.

The Holding’s portfolio has diverse renewable resources (including dammed HPP, river type HPP, wind and geothermal) which are also located in different parts of the country. This ensures a more balanced power production portfolio throughout a year compared to facilities which produce from a single and seasonally variable renewable source.

As of 31.12.2019, ENDA Holding owns and operates a total of 10 power plants with a cumulative installed capacity of 180.18 MW which are 100% renewable energy. In terms of installed power distribution, our portfolio includes 4 hydroelectric (104.08 MW), 5 wind power (68.6 MW) and 1 geothermal plant (7.5 MW). Electricity production from 100% renewable sources reduces foreign dependency and offers advantages from state purchase guarantees.

The Holding was able to produce electricity uninterruptedly and supply consumers with electricity from optimal unit prices throughout the year thanks to the diversity of renewable energy sources in its portfolio. In 2019, Enda Energy Holding and its affiliates reached total electric power production of 569.8 GWh which accounts for a 0.2% share in Turkey’s energy sector. ENDA Holding closely follows these developments and changing trends through a professional workforce and a distributed capital structure. We will relentlessly continue to strive to improve our standing among independent producers.

Power plant investments have increased especially over the last decade mainly because of legislative changes and incentives allocated to renewable energy production. However, this has led to an imbalance in supply-demand in favour of supply, forcing electricity unit prices in the fee market under highly competitive conditions to drop from 8-9 cent/kWh to 4.5-5 cent/kWh. Changing market conditions made it impossible for natural gas power plants to remain competitive due to entirely foreign dependent resources with few alternatives and comparatively high production costs. So, after nearly 2 decades in Turkey (1990-2010), these facilities which emerged as a quick and simple remedy to compensate for inadequate networks and supply deficits lost their competitiveness and were gradually closed down starting from the oldest and lowest efficiency plants followed by terminations of licenses. Some of the equipment in these closed plants were utilised as scrap while others were dismantled and transported to other countries where they continue to operate. Enda Group NG plants suffered the same fate.

  • Antalya Energy Production Co: The NG Cogeneration Plant terminated operations at the end of 2016. Negotiations to sell the equipment continued during 2018. Equipment inside the plant were finally sold in 2019 and the company was handed over the site following the issue of a site delivery protocol.
  • Tirenda Tire Energy Production Co.: The NG Cogeneration Plant ended operations on 31.05.2017 followed by a cancellation of its production license. Negotiations to sell the equipment has been ongoing during 2019 and is yet to be concluded.

Enda Energy Holding Co. sells the electricity produced at its plants via RESM, the Day-Ahead Market (DAM) and Bilateral Agreements.

According to financial tables dated 31.12.2019, the distribution of ENDA’s domestic sales are as follows: 96.8% to RESM based on a US dollar purchasing guarantee, 2.9% to the Day-Ahead Market (DAM) based on a Market Swap Price (MSP) and 0.3% with Bilateral Agreements.

For the first 10 years after the phasing-in of plants, sales prices in scope of RESM are as follows: 73$/MWh for hydroelectric plants, 105$/MWh for geothermal plants and 85.8$/MWh for wind power plants which includes the supplementary contribution for the use of domestic components. RESM sales on US Dollar currency offers natural protection against the Company’s open position derived from foreign currency liabilities.

Su Energy and Akçay Plants do not qualify for RESM however sales are made to the Day-Ahead Market via EXIST based on Market Swap Prices (MSP).

The instruments of Bilateral Agreements and direct sales to independent consumers are employed to minimise the impact of price fluctuations on the spot market. This is done with the objective of achieving more foreseeable profits and losses.

Compared to 2018, there was significant increases in the 2019 national tariff prices which amounted to 28% for the industry tariff, 26% for the commercial tariff and 7% for the household tariff. The day-before prices in 2019 increased compared to the previous year which was 231 TL/MWh in 2018 and 260 TL/MWh in 2019.

Cem Bakioğlu assumed the mantle of CEO at the elective General Assembly held in July 2015. His first priority was to concentrate on determining capital demand and its urgent procurement according to priorities in scope of a programme. In this context, the investments for 5 Wind Power Plants with a total capacity of 73 MW started simultaneously and were completed within one year. The next step was to identify needs and complete modernisation and rehabilitation work inside operational plants. Human Resources and Internal Auditing departments were founded within Enda Energy Holding Co. in order to regulate the financial structure, achieve financial discipline and comprehensive restructuring initiatives in the name of institutionalisation. In 2017, the SAP ERP system was established and live application was phased in to increase the company’s value and ensure effective, transparent and fast management of all business processes. The company has focused its efforts on institutionalisation and worked relentlessly to establish an effective quality management system at international standards. Dedicated work has been rewarded with a qualification to receive the ISO 9001 Quality Management, ISO 14001 Environmental Management, ISO 45001 Occupational Health and Safety, ISO 27001 Information Security Management, ISO 50001 Energy Management, ISO 10002 Customer Satisfaction and ISO 27001 Information Safety Management Systems Quality certificates.

Enda Group has remained committed to build on the added value it has created for all its partners. Together with its executives and employees and for more than 26 years, Enda has relied on team spirit, reciprocal trust and respect to achieve its target of long-term value creation based on its global vision.

Founding Partners
Name, Surname – Date