Esenboga Elektrik Uretim AS signed a contract to acquire 11 solar power plants with Ozyer Group, which were developed and built under the Unlicensed Electricity Generation Regulation to increase solar energy investments, in line with its Initial Public Offering (IPO) commitments, the company announced on Tuesday.
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."
The solar power plants, located in Afyon, have a total installed power capacity of 12.275 kilowatt-peak (kWp), according to the announcement.
The electricity generated from these power plants will be purchased for 10 years as per the purchase guarantee agreement from the date of provisional acceptance at $0.133 per kilowatt-hours (kWh).
Approximately 20 million kWh of solar energy generation, with sales revenue of $2.66 million and net income of $2.5 million are expected from the plants in 2021, the company said.
The acquisition is also set to see a 38% rise in the total installed solar power capacity of Esenboga Elektrik Uretim AS to reach 46.060 kWp.
An advanced payment of $100,000 has been made to Ozyer Group as part of the acquisition, which will be completed after the transfer process, the company said.
By Busranur Begcecanli