Norwegian energy group
Statkraft, Europe's largest hydropower producer, sold its one-third built Cetin
hydropower plant in Turkey to Turkish Limak Energy, an official from the
company said on Thursday.
The Norwegian official told
Anadolu Agency that the transaction would be completed in the third quarter of
this year and will be announced on Oct. 26 with Statkraft's third quarter
results.
Previously, it was reported
that one third of the plant construction located on the Botan River, a
tributary of the Tigris River in the southeastern Anatolian region, was
completed.
Turkey's Garanti
Securities, a subsidiary of Garanti Bank, was chosen as the financial advisor
for the sale of the hydropower plant, which is currently under construction.
The hydropower plant was
planned to have a capacity of 517 megawatts (MW), however due to security
concerns, the Norwegian company halted the construction in February.
Statkraft fully owns the
hydropower project, has a 49-year license for 517 MW with 1.4 terrawatts of
annual production, and is eligible for favorable feed-in-tariffs for new
renewable energy in Turkey.
Statkraft entered the
Turkish market in 2009 through the acquisition of 95 percent of Yesil Enerji
and its portfolio of hydropower projects. In 2010 the remaining 5 percent was
acquired and Yesil Enerji was renamed Statkraft Enerji.
(Anadolu Agency)