PPC to vie for two Turkish hydropower units through subsidiary

The board at main power utility PPC has decided to take part in the sale of two hydropower stations in Turkey, through the utility’s Turkish subsidiary, energypress have been informed.

Both hydropower stations, among a total of five Turkish hydropower stations up for sale, are located in the country’s central region of Kahramanmaras. Both are fed by the Ceyhan River.

PPC’s board, at a meeting held just over a week ago, unanimously decided to take part in due diligence procedures for the two Turkish hydropower stations, Menzelet and Kilavuzlu, possessing capacities of a 124 MW and 54 MW, respectively. A September 30 deadline has been set for offers concerning both units.

At the same meeting, the PPC board also reached a decision to establish a new subsidiary in Albania, where the utility plans to pursue business ventures as part of wider plan aiming to compensate for expected bailout-required market share losses in retail and production.

Turkey’s privatizations authority OBI announced a plan to privatize five hydropower stations, including their respective properties, in June.

PPC’s Turkish subsidiary, PPC Electrik Tedarik ve Ticaret Anonim Sirketi, was established in May, 2014. The company began cross-border electricity trade about four months later, after acquiring an operating permit from the country’s regulatory authority for energy. The subsidirary, formed as part of the utility’s wider southeast Europe strategy, is wholly owned by PPC.

The utility recently signed an agreement with China’s CMEC for development of a new power station in northern Greece.