Esenboga Elektrik Uretim AS, (Esenboga Electric Production) has made full payment to the Ozyer Group to acquire 11 solar power plants in Afyon, western Turkey, valued at $13.6 million, the company announced on Thursday.
Formerly, an advanced payment of $100,000 had been made to Ozyer Group as part of the acquisition.
The purchase is partially financed by a seven-year, Euro-equivalent bank loan of $11.03 million, with the remaining $2.58 million covered by equity.
According to the announcement, the solar power plants have a total installed power capacity of 12.275 kilowatt-peak (kWp).
A 10-year purchase arrangement was agreed to buy the electricity generated from these power plants from the date of provisional acceptance at $0.133 per kilowatt-hours (kWh).
The company anticipates approximately 20 million kWh of solar energy generation, with sales revenue of $2.66 million and net income of $2.5 million from the plants in 2021, the company said.
The acquisition is also set to see a 36% rise in the total installed solar power capacity of Esenboga Elektrik Uretim AS to reach 46.060 kWp
Esenboga Elektrik is a wholly-owned subsidiary of Naturel Enerji, which was the first solar company to be listed on the Borsa Istanbul stock exchange on Oct. 9 with the motto "for a cleaner, more viable world."
By Busranur Begcecanli