Turkey's Aksa Enerji to Take OverLocal Peer Siirt Akkoy Enerji Uretim

Turkish independent power producer Aksa Enerji [BIST:AKSEN] said on Tuesday its wholly-owned unit Rasa Elektrik Uretim has agreed to take over local power producer Siirt Akkoy Enerji Uretim for 64.7 million Turkish lira ($30.7 million/22.5 million euro) including assumption of debt.

Rasa Elektrik Uretim will acquire all the shares of Siirt Akkoy Enerji Uretim in exchange for the assumption of the company’s existing net debt and the payment of 4.0 million lira in cash, Aksa Enerji said in a bourse filing.

Siirt Akkoy Enerji Uretim owns and operates the 24 megawatt (MW) Siirt fuel oil-fired power plant and the 13 MW Akkoy hydropower plant.

The transaction, subject to the approval of Turkey’s energy market regulator, will increase Aksa Enerji’s total installed power capacity to 2,103 MW.

Source: SeeNews