Statkraft divesting largest hydro project outside Norway


June 13, 2016






June 13, 2016





The Çetin power plant in Turkey, which saw construction works suspended in February, is up for sale by its Norwegian developer. State-owned Statkraft said it is hiring Garanti Securities as a financial advisor in the bidding process, with a deadline for expressions of interest expiring on August 1.

As fights between government forces and the rebels intensified in southeastern Turkey, Statkraft has stated in its quarterly results it decided to halt most of the construction works on the Botan river. The two facilities planned for total capacity of 517 MW are the Norwegian company’s biggest project outside the home market. It is located in provinces of Siirt and Bitlis. Statkraft said at the time it wrote off NOK 2.09 billion (EUR 220 million) from assets.

The system, which had a third of the works completed, consists of the main plant of 401 MW and the 116 MW unit six kilometres downstream. The company gained control over the project when it acquired 95% of Turkish operator Yeşil Enerji from Global Yatırım in 2009.

Related Articles

Belgrade Energy Forum energy storage is next big thing

Belgrade Energy Forum 2024 – energy storage is next big thing

25 May 2024 - There are exponential opportunities for energy storage investments to facilitate the green transition, main developers and operators in Southeast Europe said at Belgrade Energy Forum

janom investments Andrej Srsen bef 2024

Janom Investments bringing knowhow, investments to Western Balkans

24 May 2024 - Janom Investments is eyeing a portfolio of over 1,000 MW in wind, solar and battery projects in Croatia, BiH, Serbia and North Macedonia

maja turkovic cwp global investments bef 2024

Meet energy transition leaders in SEE: CWP Global is developing 6 GW of solar, wind, storage

24 May 2024 - Vice President for Europe at CWP Global Maja Turković was a panelist at the Belgrade Energy Forum 2024 conference

Western Balkans face tight electricity market coupling deadlines

Western Balkans face tight electricity market coupling deadlines

24 May 2024 - Market coupling is the first task in the Western Balkans energy transition and their main condition to be exempted from CBAM, panelists said at Belgrade Energy Forum