GAMA Enerji closed the deal with AGE Energy.

Signing Ceremony (from left to right): Ilgın Sevin Özdemir – Business Development Analyst, Orkun Eyilik – Commercial Manager of GAMA Energy, Sırrı Vural Bilen – Energy Investments Coordinator, Gökhan Gökdoğan – Energy Investments Deputy Coordinator of AGE Energy.

GAMA Energy has signed a one year term Power Purchase Agreement with AGE Energy in order to sell the generation of the Sares Wind Energy Power Plant commissioned on 23rd December 2010. Owned by a subsidiary of GAMA Energy, GARET Enerji Üretim ve Ticaret A.Ş., Sares WEPPis located in Ezine district of Çanakkale. The annual expected electricity generation of the plant is around 90 million kWh.

Following the Agreement signed, Commercial Manager of GAMA Energy, Orkun Eyilik, assessed the current situation of the Turkish Electricity Market as “Due to the variable spot electricity prices, Wholesale Companies and Distribution Companies having portfolios with high consumption volumes are subject to considerable price volatility. Therefore, the number of private to private bilateral agreements as well as the wholesale contracts between suppliers are expected to increase.” The Long Term Supply Agreements; which are commonly used in foreign markets to manage and share market risk effectively, will provide market participants with better risk management by enabling energy trade prior to the construction of the generation assets as well. Currently, such transactions are increasing in number and consequently are improving the Turkish Electricity Market.