What happened
Türkiye’s Privatisation Administration has approved the outcome of a tender covering the operating rights for the Dereiçi Hydroelectric Power Plant in Kars and the properties used by the facility. Bülsa Enerji İnşaat Taahhüt Plastik Hayvancılık ve Sanayi Ticaret Limited Şirketi submitted the highest offer: TRY 10.5 million.
The approval matters because it identifies the company selected to receive the right to operate the generating asset, subject to the conditions of the tender. The immediate point to watch is whether Bülsa completes the required contractual steps; the rights do not move unconditionally on the basis of the bid alone.
According to Enerji Günlüğü, the plant belongs to Electricity Generation Company. The tender also includes the real estate used by the plant.
The process used an operating-rights grant method under Türkiye’s Privatisation Practices Law No. 4046. The Privatisation Administration endorsed the Tender Commission’s decision on 22 September 2026, under decision number 2026/ÖİB-K-45.
Alkan Enerji Doğalgaz Mühendislik Orman Ürünleri Dayanıklı Tüketim Malları İnşaat Taahhüt Sanayi ve Ticaret Limited Şirketi made the next-highest offer, at TRY 9.5 million.
Why it matters
The decision advances the privatisation process for an operating hydroelectric asset in Kars. It establishes Bülsa as the selected bidder for the operating right and associated properties, rather than transferring ownership of the plant as described in the reported tender method.
However, the outcome remains conditional. Bülsa must sign the agreement and fulfil its other obligations under the tender documentation. If it declines to sign or does not meet those obligations, its guarantee will be recorded as revenue for the administration.
In that scenario, the operating right would be transferred to Alkan Enerji, the second-ranked bidder. The reported decision therefore leaves a defined fallback route rather than requiring a fresh selection of a bidder.
What to watch next
The key next development is completion of Bülsa’s contractual obligations. Confirmation that the agreement has been signed would determine whether the operating right proceeds to the winning bidder. If those requirements are not met, attention will shift to the potential transfer to Alkan Enerji.
The available reporting sets out the tender result, bids and contingency arrangement, but does not provide further details on the plant’s capacity, generation output or operating timetable.
