Turkey’s privatization of hydro assets continues with EBRD funding
» Turkey’s privatization of hydro assets…
A European Bank for Reconstruction and Development loan to Entek Elektrik Uretimi A.S. will see the company take control of a pair of previously state-owned hydropower facilities.
Entek’s acquisition will include the 54-MW Kilavuzlu and 124-MW Menzelet — both located in the southeastern Kahramanmaras province — and are part of the Turkish government’s efforts to increase private participation in its energy generating sector.
The deal includes a two-part EBRD loan totaling US$55 million in value, with other lenders including Garantibank, Isbank, Akbank, Yapikredi, Unicredit and IBC Turkey.
“The privatization of Menzelet and Kilavuzlu is the largest acquisition of hydropower plants by a domestic investor in Turkey,” Entek CEO Bilal Tugrul Kaya said. “In the forthcoming period, we are planning to continue our investments by considering a balanced and diversified generation portfolio.”
Entek, a subsidiary of Koc Holding, already operates six hydroelectric plants in Turkey.
EBRD has invested more than $12 billion into Turkey since 2009, including funding for utility Gama Energi in 2016 that allowed for the privatization of the 78-MW Karacaoren hydro project.
EU allocates funds for HPP construction in Tajikistan
By Abdul Kerimkhanov The European Union (EU) has awarded a 20 million euros grant to support the construction of the Sebzor hydropower plant (HPP) in Tajikistan. The seventh meeting of the Tajikistan-EU Cooperation Committee and the second meeting of the Cooperation Sub-Committee were held in Dushanbe on June 6, the Ministry of Economic Development and…
Renewable Energy Could Be The Next Big Thing For Azerbaijan
Despite ranking in the top 20 among nations with crude oil proved reserves and the top 25 when it comes to natural gas, Azerbaijan is moving ahead with developing renewable sources of energy. On Monday, the German-Azerbaijani Chamber of Commerce based in Baku released its 2019 market analysis, which describes ways the South Caucasus’ largest…
China to provide Uzbekistan with $ 25 million loan for HPPs construction
Uzbekistan plans to build two new small HPPs on the Dargom Canal in the Samarkand region at the expense of China’s soft loans, Trend reports with reference to a government decree on April 8. The aim of the project is to consistently increase the use of renewable energy sources, increase the balance of energy resources…