EBRD buys stake in renewable arm of Turkey’s IC Holding
Date
June 04, 2019
Type
M&A Transactions
Subtype
Transaction launched
Countries
Turkey
Subsectors
Photovoltaic
Onshore Wind
Hydropower
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The EBRD is investing US$100 million in a stake of Ictas Surdurulebilir Enerji Yatirimlari, the renewable arm of Turkey’s IC Energy Holding.
The firm owns a portfolio of ten hydropower plants with a total capacity of 400 MW. With EBRD funds, it plans to invest in wind farms and solar projects with a combined capacity of up to 250 MW.
The EBRD investment will also partly finance the recent privatization of Kadincik hydropower plants, in Mersin, in the south of Turkey, in a move to help increase the participation of private suppliers in power generation.
