Renewables

Investment in hydro plant operator vehicle planned by EBRD

Published

May 8, 2015

Country

Comments

0

Share

Published:

May 8, 2015

Country:

Comments:

0

Share

European Bank for Reconstruction and Development said it is considering an equity investment of up to USD 35 million (EUR 30.73 million) to acquire up to a 20% stake in holding company HoldCo, a vehicle to be established as a 100% owner of five operating run-of-the-river hydropower plants (HPPs) currently owned by Rönesans Enerji and partners.

The five plants have an installed capacity of 114 MW and are located in the northern part of Turkey.

EBRD said it will be making the investment alongside energy companies Edison SpA and Rönesans Enerji.

The project will increase competition and foreign direct investments in Turkey by bringing an experienced European energy company into the market, the project summary document said. The target board date is June 10.

The participation of Edison, which is considering the investment in parallel, would lead to an increase in competitive pressure and induce further efficiencies in the way the power market operates and its participants behave, the announcement said.

The project will also set standards for corporate governance and business conduct as the bank, jointly with Edison, will review the management systems and permitting procedures inclusive of the existing stakeholder engagement plans and through the implementation of an environmental and social action plan (ESAP) introduce best practice in running of the hydro facilities, EBRD said.

Related Articles

EU electricity market design reform temperate positive step

EU’s electricity market design reform deemed as temperate, positive step

17 March 2023 - In its usual manner, the European Commission has come up with middle-of-the-road solutions for its electricity market design reform

smr-small-nuclear-reactor-energy-nea

NEA launches SMR Dashboard to track small nuclear reactor development

17 March 2023 - Small modular nuclear reactors can reshape the energy market and help the world reach net zero emissions by 2050, NEA says

Romania-Hidroelectrica-partners-Masdar-renewables

Romania’s Hidroelectrica partners with Masdar to develop renewables

17 March 2023 - Hidroelectrica established a joint venture partnership with Masdar from the United Arab Emirates for the development of renewable energy projects

Number prosumers Albania one thousand

Number of prosumers in Albania surpasses one thousand

16 March 2023 - The number of prosumers with solar power panels on the electricity distribution network in Albania has reached 1,025