January 3 (Renewables Now) - Turkish power producer Zorlu Enerji Elektrik Uretim AS (IST:ZOREN) has signed an agreement to sell its wind power unit Zorlu Ruzgar to Ankara-based renewable energy company Akfen Yenilenebilir Enerji AS.
Zorlu Ruzgar, also an engineering, procurement and construction (EPC) firm, operates the Saritepe and Demirciler wind farms with 80 MW of total installed capacity in Turkey, according to Spain’s Banco Bilbao Vizcaya Argentaria SA (BME:BBVA) whose Turkish unit advised on the deal.
Thanks to the acquisition, Akfen Yenilenebilir, which counts the European Bank for Reconstruction and Development (EBRD) and the International Finance Corporation (IFC) as shareholders, will approach its targeted total installed capacity of 712 MW.
Zorlu Enerji said in a separate statement that the sale would allow it to build a strong capital structure and promised to continue investing in renewable energy.
Following the sale, the company will have only one wind farm in its home country, the 135-MW Gokcedag, which it will continue to operate.
Financial details of the transaction have not been disclosed.