It takes practice and quick reflexes. I can do decent power slides in my 240SX at about 30-40 Km/h (not very fast), but it took practice and I've spun around a few times (thankfully, never resulting in any damage
)
It's best to start in the snow where you can do very slow and controlled slides, graduate to wet pavement, and then go for it on dry tarmac.
What works for me when at a 90 degree corner is:
1. Turn aggressively before the corner, even before the opposite lane
2. Give it some throttle
3. Feed it some counter-steer as the back begins to slide and hold it until you run into opposite lock
Now,
how aggressively,
how much throttle,
how much counter-steer and
when to initiate it all depends on how much you want to slide, your engine's throttle response, your engines torque and power output, and many other variables.
Your car was a crapload more power and torque than mine, so it will be very different. More power will mean that you'll need to be more careful with the throttle.
In the end, it's basically a matter of practicing and getting the feel of it -- and having a blast when you do
Do you have an automatic or a manual gearbox? A manual is better.