Photo: Klas_lu from Pixabay
Turkey-based Kontek Kontrol Teknolojileri ve Otomasyon is taking over a 111 MW solar power plant project in North Macedonia.
Kontek Kontrol Teknolojileri ve Otomasyon SAN. TİC. A.Ş. plans to take over Skopje-based firm ASI Trade-M, which is developing the project.
According to the Commission for the Protection of Competition of North Macedonia, Kontek has filed a concentration request. It plans to buy an 85% stake in Asi Trade-M.
The Turkish company’s core business is installation services for industrial-process control equipment. The company also operates in the energy sector, offering turnkey solar power plant construction services.
Asi Trade-M is developing a PV project in the municipality of Probištip
Internationally, Kontek has participated in various projects in Georgia, Bulgaria, Northern Cyprus, Libya, Spain, and Egypt, the commission noted.
The Turkish company has no stake in any other company in North Macedonia.
Asi Trade-M is developing a photovoltaic plant in the village of Tolovo in the municipality of Probištip, with a capacity of 111 MW. The project is under construction, with the production and sale of electricity expected to start very soon, according to the request.
The Skopje-based company has no stake in other companies in North Macedonia either.
The transaction may fall under the scope of the Law on the Protection of Competition
The commission has determined that the takeover may be subject to the provisions of the Law on the Protection of Competition. It is now inviting all interested parties to submit their comments.
Turkish companies are very active in North Macedonia. A few weeks ago, the government announced the largest-ever investment from Turkey.
The prime minister of North Macedonia, Hristijan Mickoski, said that Kazancı Holding plans to invest EUR 1 billion in gas-fired power plants and natural gas and heat distribution grids.
The country elected a new government eight months ago. In a recent interview for Balkan Green Energy News, Minister of Energy, Mining and Mineral Resources Sanja Božinovska presented the country’s priorities in the energy sector.
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