Kadincik I & II Hydroelectric Portfolio Privatization
Sector: Hydro • Location: Turkey
Source: World Bank Group
The project entails the privatization of a portfolio of hydroelectric power plants- Kadincik I & II in Tarsus district, Mersin Province, Turkey. The total capacity of the facilities is 144 MW. Within a privatization program launched by PA (Privatization Authority), the two power plants were acquired by IC Ictas Hidroelektrik ve Termik Enerji Uretim ve Ticaret (SPV), which is wholly owned by IC Hol
- Status
- Prospective
- Sector
- Hydro, Power Generation (CCGT), Government
- Location
- Turkey
- Updated
- 22 Jul 2026
- Source
- World Bank Group
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Project Information
Participants
Sponsoring Agency | |
Company |
Status
Original status | active |
Taiyo status | Prospective |
Taiyo last update | 2026-07-22 |
Contact
| Not available for this record. |
Description
Description | The project entails the privatization of a portfolio of hydroelectric power plants- Kadincik I & II in Tarsus district, Mersin Province, Turkey. The total capacity of the facilities is 144 MW. Within a privatization program launched by PA (Privatization Authority), the two power plants were acquired by IC Ictas Hidroelektrik ve Termik Enerji Uretim ve Ticaret (SPV), which is wholly owned by IC Holding. The privatization is carried out as a “Transfer of Operation Rights” transaction. The funds will also be used for refinancing of existing portfolio with a total installed capacity of 276 MW in various regions of Turkey. The project value is $929 million and is financed though a $879 million three-tranche loan, provided by a syndicate of six lenders, and $50 million in equity, provided by project sponsor IC Ictas Group. The loan comprises a $371 million and a $205 million term loans with 14 years of tenor and a $303 million standby facility which matures in 4 years. https://ijglobal.com/data/transaction/36787/kadincik-i-ii-hepps-acquisition-and-refinancing |
Original sector | Energy |
Budget |
Location
Country | Turkey |
Source
Source | World Bank Group |
URL |
More Details
Record type | Project |
Sector | Hydro, Power Generation (CCGT), Government |
Article published date | 2024-09-20 |
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