Palmet Enerji A.S. (Turkiye)

Palmet Enerji Anonim Sirketi, located in Istanbul, is a company that was established in 1984 under the name PALMET METAL A.Ş. In 1987, the company undertook the construction of Gas Pressure Reduction Metering Stations and control rooms for the Turkey-USSR Natural Gas Pipeline. Throughout the 1990s, Palmet played a leading role in feasibility studies for the natural gas sector in Turkey. In 2001, with the establishment of the Energy Market Regulatory Authority (EMRA), Palmet became one of the first investors in the energy sector with its companies PALGAZ and PALEN, which won Natural Gas Distribution License Tenders for Gebze and Erzurum. As of 2021, Palmet Enerji supplies natural gas to Kocaeli through İZGAZ, to Gebze through PALGAZ, and to Erzurum through PALEN. The company serves approximately 900 thousand customers in 2 provinces and 28 districts across 3 license regions. Palmet Enerji also operates natural gas combined cycle power plants, including the 60 MW DELTA Natural Gas Combined Cycle Power Plant and the ALES Natural Gas Combined Cycle Power Plant with 62 MW power. In 2021, Palmet Enerji acquired BAYMINA Energy, one of Turkey's largest natural gas cycle power plants, increasing its total installed power to 892 MWe. Additionally, the company is involved in the construction of the 284 MWe Eriç Dam and HEPP Project in Erzincan province. Palmet Energy manages 10% of the natural gas consumed in Turkey through its distribution networks and natural gas cycle power plants, with an annual gas volume of 6 billion cubic meters. The company also operates as GASLINE Doğalgaz Toptan Satış A.Ş., providing wholesale natural gas sales and spot LNG import services. In 2010, Palmet Enerji obtained an Electricity Wholesale License and established PALPORT Elektrik Ticaret A.Ş. to supply electricity to a wide range of customers. Palmet Engineering, a subsidiary of Palmet Enerji, is responsible for engineering and contracting works in all group investments. It specializes in the design, implementation, and operation of telecom, IT, and energy infrastructures globally. To support its investments in the energy sector, Palmet Enerji formed a partnership with Canadian company Manitoba Hydro International. The partnership, known as Palmet-Manitoba Hyro International Engineering and Contracting Trade Inc. (PMHI A.Ş.), provides planning, feasibility, project design, construction, and operation services for hydroelectric energy investments undertaken by Palmet Enerji.