Global sells energy firm to Statkraft

Yeşil, which has licenses to install six hydroelectric power stations with a total capacity of 560 megawatts, will invest $1 billion over the next five years. The company’s value is estimated to be 98.1 million euros. "We had already initiated the deal in March, and this is the last phase of the acquisition," said Mehmet Kutman, chief executive of Global Investment Holding, in a press conference Tuesday evening. Global is not planning to sell the rest of the 5 percent of its shares in Yeşil Enerji, Kutman said. "Hydroelectric power stations need to be built with detailed planning and intensive labor. Our construction means were not enough. That's why we chose Statkraft."

"Turkey is full of opportunities regarding renewables," said Tima Iyer, Southeast Europe Business Unit president of Statkraft. "Our aim is to develop six hydroelectric power stations." Statkraft will open offices in Istanbul and Ankara.