Turkey's Global gets 4 bids for renewable energy unit
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Global Yatirim has received four bids from potential partners for a stake in its renewable energy unit, the Turkish investment holding said in a statement on Tuesday.
Global has been searching for a strategic partner for its fully-owned unit Yesil Enerji (Green Energy), which is involved in projects for eight hydroelectric plants with total capacity of approximately 625 megawatts.
Global, which manages a range of investments in the Turkish financial services, infrastructure, real estate and energy sectors, last month extended its deadline for final bids for the Yesil Enerji stake from January to early February.
Energy consumption is growing rapidly in Turkey, boosting hydroelectric, wind and solar energy projects.
Analyst Ezgi Ozturk at Oyak Securities said only one of the Yesil power plants was under construction while the others were at the planning phase.
She added that Global might use proceeds from the transaction for its Izmir port development project. Global won a privatisation tender for the port with Hong Kong's Hutchison last year.