EBRD acquires stake in renewable energy arm of IC Holding

13/05/2019 08:36 Hydro

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EBRD has acquired stake in Ictas Surdurulebilir Enerji Yatirimlari, the renewable energy arm of Turkey’s IC Holding for $100m.

The EBRD’s investment is expected to provide new boost to Turkey’s renewable energy sector. Ictas Surdurulebilir Enerji Yatirimlari owns a portfolio of ten hydropower plants with a total capacity of 400MW. With the funding, the company expects to invest in wind and solar power with a combined capacity of up to 250MW.

 

The investment will also be used to party finance the recent privatisation of Kadincik hydropower plants, in Mersin. The move is expected to encourage the participation of private suppliers in power generation.

 

EBRD stated that supporting the project is part of its efforts to help Turkey in increasing its share of renewables in its energy mix.

Source: compelo.com

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