EBRD acquires stake in renewable energy arm of IC Holding

13/05/2019 08:36 Hydro


EBRD has acquired stake in Ictas Surdurulebilir Enerji Yatirimlari, the renewable energy arm of Turkey’s IC Holding for $100m.

The EBRD’s investment is expected to provide new boost to Turkey’s renewable energy sector. Ictas Surdurulebilir Enerji Yatirimlari owns a portfolio of ten hydropower plants with a total capacity of 400MW. With the funding, the company expects to invest in wind and solar power with a combined capacity of up to 250MW.


The investment will also be used to party finance the recent privatisation of Kadincik hydropower plants, in Mersin. The move is expected to encourage the participation of private suppliers in power generation.


EBRD stated that supporting the project is part of its efforts to help Turkey in increasing its share of renewables in its energy mix.

Source: compelo.com

Daily (19.06.2019): WTI futures hiked by 4% on Tuesday, on improved trade negotiations between China and U.S.

19/06/2019 10:29:00

Crude oil prices increased by more than $1 a barrel on Tuesday, ahead of the G20 summit later this month, when China and U.S. will try to negotiate softer trade tariffs. Tensions in the Middle East also lent support to prices. As a result, Brent crude rose by 2% to $62.14 a barrel, while WTI futures closed 3.8% higher at $53.90 a barrel.


Siemens Gamesa to supply turbines for wind project in Taiwan

19/06/2019 09:28:00

Spanish wind turbine manufacturer Siemens Gamesa Renewable Energy (SGRE) has secured an order to supply turbines for the 376MW Formosa 2 offshore windfarm project in Taiwan.


SOCAR Turkey finalizes acquisition of EWE Turkey

19/06/2019 09:24:00

SOCAR Turkey completed the takeover of EWE Turkey Holding's subsidiaries Bursagaz, Kayserigaz, Enervis, EWE Enerji and Millenicom, according to a statement from the company on late Monday.