Turkey to try again for power grid sales

"Preparations are underway for the three distribution regions of Akdeniz, Gediz and Boğaziçi ... and the sales are planned for 2012," Pınar Varoğlu of the state Privatisation Administration told an energy conference.

The sale in 2010 of the Boğaziçi Elektrik, which serves 3.8 million customers on İstanbul's European side, and Gediz Elektrik, covering the city of İzmir with 2.3 million subscribers, attracted a combined $4.9 billion.

Akdeniz Elektrik raised $1.225 million at another auction.

All three sales were scrapped last year after the companies which made the winning bids failed to make payments.

Varoğlu blamed the failure of the sales on difficulties companies faced in finding financing amid a global economic downturn and conditions in the contract.

The Privatisation Administration (OIB) also aims to sell off the Seyitomer coal-fired power station this year, Varoğlu also said. Seyitomer has installed capacity of 600 megawatts and is located in the western Turkish province of Kütahya.