Boydak Holding, which had the licenses for several of its energy projects revoked last week, issued a response on Monday in which it expressed its commitment to continue in the sector.
“Our company will continue with our work in the energy sector – in which we have a rightful place – with motivation and enthusiasm. After being informed of the cancellation of the licenses for projects we are working on that would enrich the energy sector, we have reviewed all of our administrative and legal rights, and as in the past, we plan to continue to add value to this country,” said the company.
The Energy Market Regulatory Agency (EPDK), Turkey’s energy watchdog institution, cancelled several of the group’s planned hydroelectric plant and wind power plant projects and banned the company from the energy sector for three years, according to Turkish news outlets last week. Boydak Holding is one of the largest industrial firms in Turkey, employing over 14,000 people. It entered the energy sector in 2010 and announced plans earlier this year indicating that it intended to expand its presence in the field.
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