Kent Solar HPPs - Group 1

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In February 2010, the Turkish Privatization Administration (Ozellestirme Idaresi Baskanligi or OIB) awarded the concession to operate three mini hydro power plants, known as Group 1 and with total a capacity of 0.984 MW, to Turkish solar power group Kent Solar Elektrik [Turkey]. The minihydro power plants were 0.24 MW Iznik Derekoy, 0.272 MW Ingegol Cerrah and 0.472 MW M Kemalpasa Suuctu, all of them located in Bursa, Turkey. They were transferred under the Transfer of Operating Rights (TOR) scheme, which made it classified as a BROT Concession in the PPI database. The project was expected to sell electricity produced in the liberalized electricity market in Turkey. Kent Solar Elektrik won Group 1 mini hydro plants by offering US$6.6 million in the public auction after the 22 rounds of bids. Group 1 was one of the 19 groups of small and medium hydro power plants which OIB tendered to private consortia in February 2010. The 19 groups comprised 52 small and medium size hydro power generation plants which were owned by state-owned power firm Elektrik Uretim A.S. (EUAS) and had a total capacity of 141 MW. The 19 groups were auctioned in by competitive bidding attracting 615 bids. In May 2010, the final negotiations were completed in May 2010 for 17 tenders out of 19 in total, except groups 11 and 12. The tenders for these two groups would be held at a further date, as the plants in these groups were located at a disaster area on a historical site. In June 2010, the final negotiation for Group 11 was completed and Group 12 was to be canceled for its tender. The privatization process of most of the 19 groups concluded in 2011. According to the privatization agency, the process was completed on January 25th, 2011, when the shares where transferred to the private sponsor for US$6.6 million