Maya Enerji Yatırımları A.Ş. (Maya Energy Investments Inc.) is Brightwell Holdings B.V.’s first investment in the energy sector. Maya Enerji, which was established in August of 2006, acquired Gozutok Elektrik Uretim Ltd., the company holding the licenses for the Aksu and Yedigol Hydroelectric Power Plants’ (50 MW installed power production and 166 GW total production capacity) 49-year operating rights after EMRA (EPDK - Energy Market Regulation Authority) approval in August 2006. The total investment of these projects is approximately 65 million USD.

Maya Enerji obtained the right to acquire the 49-year operating rights for the Ordu-Fatsa Hydroelectric Power Plant Project (51 MW installed power production and 126 GW total production capacity) at the SWA (DSI - State Waterworks Authority) Contribution Share Bid Meeting by offering the bid with the highest contribution share, in June 2007. The total investment for these projects is approximately 80 million USD.

Similarly, in September 2007, the 49-year operating rights for the Cayasan Hydroelectric Power Plant, with 17 MW of installed power and a total power production capacity of 84 GWh, were purchased along with the Van Electric Production Industry and Commerce Ltd. company (Van Elektrik Üretim Sanayii ve Ticaret Ltd.Şti.). The total investment for this project is approximately 32 million USD.

In October 2007, Borusan Enerji acquired 70% of Maya Enerji.

After the partnership, Maya Enerji earned the right to acquire the 49-year operating rights for the Kaletepe Hydroelectric Power Plant Project in Tunceli (60 MW installed power production and 215 GWh total production capacity) at the SWA Contribution Share Bid Meeting by offering the bid with the highest contribution share in December 2007.

In April 2008, Maya Enerji obtained the right to acquire the 49 year operating rights for the Alara Group Hydroelectric Power Plants Project in Antalya (187 MW installed power production and 622 GWh total production capacity) at the SWA Contribution Share Bid Meeting by offering the bid with the highest contribution share.

In June 2008, Maya Enerji earned the right to acquire the 49-year operating rights for the Bozkaya Hydroelectric Power Plant Project in Tunceli (30 MW installed power production and 109 GWh total production capacity) at the SWA Contribution Share Bid Meeting by offering the bid with the highest contribution share.

Applications for licenses for 3 Wind Power Plants with an installed power production capacity of 160 MW were made in November 2007.

By the time Borusan Enerji acquired the remaining 30% shares of Brightwell Holdings B.V. in Maya Enerji in November 2008, Maya Enerji’s project portfolio had reached a total installed power production of 555 MW.

On March 3, 2009, it was declared that one of the largest energy companies of Germany, EnBW, has acquired 50% of Borusan Enerji, which has reached a protfolio of 912 MW:
http://www.reuters.com/article/rbssIndustryMaterialsUtilitiesNews/idUSL388127720090303

The partners stated that they will initially focus on the existing projects with a total investment of 1 billion Euros and in the longer term, increase the size of the portfolio to 2,000 MW.

Maya Enerji, established only in August 2006, has enabled the partnership of Borusan Holding, one of the foremost diversified groups in Turkey, with EnBW, one of the most important energy companies in Europe in two and a half years. Brightwell Holdings has successfully created value once again.

On March 3, 2009, the publicly traded shares of Borusan Mannessman Boru Sanayi (ticker: BRSAN.IS) has gained 9.52% and its market capitalization increased by 14.3 million Turkish Liras (approximately 8.4 million USD) and the shares of Borusan Yatırım (ticker: BRYAT.IS) has gained 6.8% and its market capitalization increased by 5.7 million Turkish Liras (approximately 3.3 million USD).