Global Investment Holdings, a Turkish diversified holding company, has agreed a deal to sell the hydropower projects to Statkraft that were operated by its subsidiary Yesil Enerji.
Development and construction of the seven hydropower plants is expected to require a total investment of €600–700M.
Statkraft, 100% owned by the Norwegian state, announced earlier this year that expansion through acquisitions is a key priority in the company’s ambitions to become a major niche-player in hydropower globally.