With the structuring in the renewable energy portfolio HEPP, WPP, SPP groups and Electricity Wholesale were consolidated under “Akfen Renewable Energy“.
In Akfen Renewable Energy Group’s portfolio there are currently 13 HEPPs with a total installed capacity of 235.7 MW, of which 228.7 MW is operational, 7.0 MW is under construction. Additionally, there are WPP projects that are under assessment / in pre-license application stage that have a total installed capacity of 560 MW and SPP projects (licensed and unlicensed) with a total of 120.4 MW installed capacity, of which 95.5 MW is operational. Also, construction have started for the 275.4 MW WPP projects, which have been acquired in June 2017. Kocalar WPP (30,60 MW), which was completed in August 2018, has started the commercial production on 14.03.2019 and Ucpinar WPP (112,2 MW) has started the commercial production within 2 phases on 10.05.2019 and 18.06.2019. In order to ensure that our WPP project, which is currently under construction, will be operational in 2019. The development of 560 MW WPP capacity has been completed and TEİAŞ application date is expected.
All the projects in Akfen Renewable HEPP portfolio enjoy purchase guarantee at US$73 MWh for the first 10 years of their operations within the scope of 5346 Renewable Law. Within this purchase guarantee mechanism, WPP portfolio enjoys a guarantee of US$73, GPP portfolio US$105 and SPP portfolio US$133. Within the scope of the same law, SPP and WPP projects benefit from the domestic content incentive as these projects utilise locally manufactured equipment. With this domestic content incentive, the WPP portfolio has a USD 79 and SPP portfolio has a sales price of USD 137.4.
According to the Board Decision numbered 2015/16 and dated 13.07.2015, it was decided to purchase shares of the companies that are investing in solar and thermal energy in order to expand the energy portfolio. In this context, in order to restructure and to achieve a more efficient structure of our subsidiary Akfen Termik Enerji Yatirimlari A.S., it was decided to initiate partial division transaction and to complete necessary transactions for whole transfer of Adana Ipekyolu Enerji Uretim A.S., a subsidiary of Akfen Termik, to a new company by the way of partial division until 31.12.2015. I was also decided that our Company would acquire 40% Adana Ipekyolu owned by our board member Selim Akın and 29.75% of Akfen Termik owned by our Chairman of the Board Hamdi Akın.
Within this context it was also decided that 100% of Karine Enerji Üretim ve Sanayi A.Ş., that holds companies related with solar energy generation, owned by Selim Akın, would be acquired by our Company. The above mentioned share transfer transaction in Adana İpekyolu was completed as of 30 October 2015.
On 22 June 2016, Akfen Holding signed a Shareholders Agreement with EBRD and IFC for an up to 16.67% stake each, in Akfen Renewable Energy that was structured through the consolidation of of subsidiaries operating in the renewable energy area, Akfenhes Yatırımları ve Enerji Üretim A.Ş. (Akfen HEPP), Akfenres Rüzgar Enerjisi Yatırımları A.Ş. (Akfen WPP), Akfen Elektrik Enerjisi Toptan Satış A.Ş. (Akfen Wholesale) and following its transfer to our Company Karine Enerji Üretim Sanayi ve Ticaret A.Ş. (Karine SPP) under one roof, for a consideration of US$100 million each, respectively.
The conditions of the closing were met and at the initial stage, the paid in capital of Akfen Renewable Energy was raised from TL634,500,000 to TL705,000,000, EBRD&IFC have participated in Akfen Renewable Energy with a 5% stake each, paying US$44,444,444. The rise in the paid-in capital was registered on 12 July 2016. As of June2018, the stakes of EBRD and IFC have risen to 15.982%, whereas Akfen Holding’s stake declined to 68.036%.
|Power Plant||Location||Status||Installed Capacity (MW)||In Service Date|
|Otluca HEPP||Mersin||On Operation||48.8||7.04.2011 & 13.07.2011 & 16.09.2011|
|Sırma HEPP||Aydın||On Operation||6.7||24.05.2009|
|Sekiyaka II HEPP||Muğla||On Operation||3.5||18.01.2014 & 28.08.2015|
|Çamlıca III HEPP||Kayseri||On Operation||28.5||2.04.2011|
|Saraçbendi HEPP||Sivas||On Operation||26.3||7.05.2011|
|Demirciler HEPP||Denizli||On Operation||8.7||4.08.2012|
|Kavakcalı HEPP||Muğla||On Operation||11.4||30.03.2013|
|Gelinkaya HEPP||Erzurum||On Operation||7.1||15.06.2013|
|Yağmur HEPP||Trabzon||On Operation||9.2||28.11.2012|
|Doğançay HEPP||Sakarya||On Operation||31.6||30.08.2014 & 13.09.2014|
|Doruk HEPP||Giresun||On Operation||28.9||20.09.2014|
|Çalıkobası HEPP||Giresun||On Operation||18.1||2.06.2017 & 4.05.2018|
|Çiçekli 1-II HEPP||Artvin||Under Construction||7.0|
|Yaysun SPP - Unlicensed||Konya||On Operation||0.6||19.02.2014|
|Denizli Projects (SPP) - Unlicensed||Denizli||On Operation||7.4||25.05.2015|
|Solentegre SPP- Licensed||Elazığ||On Operation||9.1||14.10.2016|
|Solentegre SPP- Unlicensed||Elazığ||On Operation||0.6||16.02.2016|
|Amasya SPP - Unlicensed||Amasya||On Operation||11.2||16.08.2017 & 23.08.2017|
|Karine SPP- Unlicensed||Elazığ||On Operation||0.6||26.08.2017|
|Tokat Projects (SPP) - Unlicensed||Tokat||On Operation||5.6||19.10.2017|
|Omicron Engil SPP- Licensed||Van||On Operation||12.1||20.09.2018|
|Omicron Erciş SPP- Licensed||Van||On Operation||12.1||21.09.2018|
|Yaysun SPP- Licensed||Konya||On Operation||12.1||27.09.2018|
|ME-SE SPP- Licensed||Konya||On Operation||12.1||27.09.2018|
|MT Doğal SPP- Licensed||Konya||On Operation||12.1||27.09.2018|
|PSİ SPP- Licensed||Van||Under Construction||13.0|
|IOTA SPP-Licesed||Malatya||Under Assessment||12.0|
|Kocalar WPP||Çanakkale||On Operation||30.6||14.03.2019|
|Üçpınar WPP||Çanakkale||On Operation||112.2||10.05.2019 & 18.06.2019|
|Hasanoba WPP||Çanakkale||Under Construction||57.8|
|Denizli WPP||Denizli||Under Construction||74.8|