UPDATE 1-Turkey completes power grid tenders

* Final four tenders held on Friday

* Bids for four Friday tenders worth $3.46 bln

* Sabanci and E.On's Enerjisa won main two tenders (Adds details, background)

By Ozge Ozbilgin

ANKARA, March 15 (Reuters) - Turkey said it had completed privatisation auctions for all of the country's power grids after the final four tenders, held on Friday, raised $3.46 billion.

The highest bid - of $1.725 billion - for the Toroslar power distribution grid in southern Turkey was placed by Enerjisa, a joint venture of Turkey's Sabanci and Germany's E.ON , the country's privatisation authority said.

Turkey had to repeat the tender for the Toroslar grid after Yildizlar SSS won it two years ago with a bid of $2.075 billion but failed to pay.

Enerjisa also placed the highest bid of $1.227 billion for the Ayedas power grid, covering the Anatolian side of Istanbul.

The other two winners were Turkerler Insaat with a bid of $118 million for the Vangolu, or Lake Van, power distribution network in eastern Turkey and Iskaya Dogu OGG, with a bid of $387 million for the Dicle network in southeast Turkey.

Tenders for those grids were also repeated after they met with payment difficulties and other disputes in 2010.

($1 = 1.8098 Turkish liras) (Writing by Ece Toksabay; Editing by Helen Massy-Beresford)