Chairman's Message

Ünal Aysal

Having started our journey in 1974 in Brussels, from an international trading house, Unit has been transformed to an energy investor. When we initiated to develop our first project in Turkey in early 90’s, we had to create an investment model securing the positions of all of the parties involved from contractors to state owned entities. Our experience accumulated during structured finance trading transactions helped us to bring pragmatic solutions to realize the first BOT gas fired power plant project (Uni-Mar) through the support of international project finance channels. The meticulous contract drafting period followed by a complex financing scheme has resulted in a successful project completion in 1999; since then Uni-Mar is supplying the electricity required to support the growing Turkish economy. As a part of our growth strategy, Unit has invited multinational companies to join Uni-Mar; thus we paved the way for our positioning in new international energy markets.

In 2000’s, Unit has closely monitored the developments in the liberalizing Turkish electricity market. We adopted new business models for proactively adapting to the changing investment climate and we established our electricity trading department and started to develop licensed generation projects in a liberal market. Our investment criteria are based on innovative ideas and methodological analysis. The investment rational should also be substantiated by a qualitative observation which is more intuitive and subtle. This dimension of our analysis assures the compliance to our long term strategic goals.

In Turkey, our portfolio includes two major projects namely Boyabat, largest privately owned dam type hydro power plant and Yeni Elektrik a cycling high efficiency gas fired power plant located in the heart of one of the of the Turkey’s main industrial zones. Reputable local and international partners have shown strong contributions during the execution and operation of those assets. Unit owns other generation projects with various sizes in a wide geography including Central and Eastern Europe reaching a total generation portfolio around 2.900 MW. Unit’s pipeline projects are mainly focused on north of Iraq and Iran targeting a capacity more than 6.000 MW in total.

In order to manage such a sizeable structure, Unit has established a performance oriented corporate structure in line with the operational requirements of the business. Procedures reviewing all aspects of our operations are driven by specialist departments. A sustainable corporate governance scheme is underlying all transactions of Unit to ensure the principles of a trusted high performance partner in all our endeavors. Determination of quantifiable specific targets helps us to make necessary adjustments and taking required measures for restructuring our operating systems. Our centralized control mechanism is supported through standardized reporting channels from our subsidiaries. Unit peruses a mission for ensuring increase of financial strength, competitiveness and transformation. Our dedication to this mission is the assurance of our future success.

Ünal Aysal
Chairman