Company News   Renewables (HEPP, Wind, Solar, Biofuel)

6/15/2017

Borusan EnBW Enerji Yatırımları ve Üretim A.Ş. (Borusan EnBW Energy Investments & Production Inc.) Acquires Kıyıköy WPP

Agreement has been reached on the acquisition of Kıyıköy Wind Power Plant (WPP) owned by Aksa Enerji Üretim A.Ş. by Borusan EnBW Enerji Yatırımları ve Üretim A.Ş. (Borusan EnBW Energy Investments & Production Inc.) for $ 60,100,000

It is reported that agreement has been reached on the acquisition of Kıyıköy Wind Power Plant (WPP) owned by Aksa Enerji Üretim A.Ş. by Borusan EnBW Enerji Yatırımları ve Üretim A.Ş. (Borusan EnBW Energy Investments & Production Inc.) for $ 60,100,000.

According to a disclosure made to KAP (Public Disclosure Platform) by Aksa Enerji Üretim A.Ş., it is stated that the most suitable offer among all submitted bids regarding the acquisition of the power plant has been made by Borusan EnBW Enerji Yatırımları ve Üretim A.Ş. (Borusan EnBW Energy Investments & Production Inc.) and Borusan Danışmanlık ve Ortak Hizmetler A.Ş. (Borusan Consultancy & Joint Services Inc.).

The disclosure is quoted as follows: “Agreement has been reached on the acquisition of Kıyıköy Wind Power Plant (WPP) by Borusan EnBW Enerji Yatırımları ve Üretim A.Ş. (Borusan EnBW Energy Investments & Production Inc.) and Borusan Danışmanlık ve Ortak Hizmetler A.Ş. (Borusan Consultancy & Joint Services Inc.) for $ 60,100,000. Agreement has been reached on the payment of $ 38,500,000 on the date of the transfer of shares for the present installed power of Kıyıköy Wind Power Plant and on the obtaining of forestry permits besides a decision on investment for a capacity increase up to 72 MW, and it has been found appropriate that the remaining amount shall be accepted as the royalty amount upon deduction of debts from the determined value of the company.”

It is being reported that the installed power of the plant is 27 MW presently.

Borusan having been inaugurated in the energy sector in 2007 and having signed a partnership agreement in 2009 with EnBW AG which is the third largest energy company of Germany, aims to reach a capacity of 2000 MW until 2020 entirely in the renewable energy field with a total investment of $ 4.5 billion.