Menzelet & Kilavuzlu HEPPs

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Turkey's Akorenbeli Hydroelectricity Investment Construction and Transmission AS ("Project company") won the tender for the privatization of the Kilavuzlu (54 MW) and Menzelet (124 MW) hydropower plants, at a cost of 1.25 billion Turkish liras ($401 million). The plants are located in the province of Kahramanmaras in Turkey's southeastern Mediterranean region. In total, 10 companies participated in the tender, and after five rounds, three companies proceeded to open bidding. Akfen Holding is the sponsor and sole owner of the Project company. The privatization is carried out through Transfer of Operating Rights (TOR). The transaction is part of the Turkish Privatization Administration strategy to transfer the operations of power facilities to the private sector. OIB had tendered five plants into three groups - Camlica plant in Kayseri, Almus and Kokluce plants in Tokat, and Menzelet and Kilavuzlu plants in Kahramanmaras. Financing details are not disclosed yet.