Turuncova Finike HPP - Group 5

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On March 8th 2011, the Turkish Privatization Administration (Ozellestirme Idaresi Baskanligi or OIB) signed with Turkish Fides Reklam Enerji Hizmet Lojistik Turizm a 49 year concession granting the operating rights of Turuncova Finike power plant, known as Group, 5 with a total capacity of 0.552 MW. The total capacity of the mini hydro power plant was 0.552-MW and was located in Antalya, Turkey. The plant was transferred under the Transfer of Operating Rights (TOR) scheme for 49 years with no investment obligations to expand or rehabilitate the power plant. Based on this information, the project was classified as a lease contract in the PPI Database. The project was expected to sell electricity produced in the liberalized electricity market in Turkey. In May 2010, Fides Reklam Enerji Hizmet Lojistik Turizm won the operating rights of Group 5 mini hydro plant in an open tender held by OIB by offering US$2.76 million in the public auction. The tender of this power plant received 12 bids in total. The tender, which were conducted by competitive bidding, followed the sale of other groups over the past two weeks from the same tender that ended in February. Group 5 was one of the 19 groups comprising of small and medium hydro power plants which OIB tendered to private consortia in February 2010. The 19 groups comprised a total of 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. A group had between one and five dams and were grouped based on their geographical proximity. The 19 groups were auctioned in by competitive bidding attracting 615 bids. The privatization process of most of the 19 groups concluded in 2011.