Turkey's IC ICTAS Energy Investment Holding won a tender to privatize Kadincik 1 and Kadincik 2 hydropower plants, located in Mersin, in the south of the country, at a cost of 864 million Turkish liras ($299 million) on Monday.
The installed power capacity of the Kadincik 1 hydropower plant is 70 megawatts and the Kadincik 2 hydropower plant has a generation capacity of 56 megawatts.
In total, 10 companies applied for the tender.
The first offer in the tender round started at 777 million liras and was followed by four elimination rounds. After the elimination rounds, the qualifying companies then proceeded to open bidding.
The opening bid started with an offer of 858 million liras. IC ICTAS Energy Investment Holding won the tender with the highest final offer of 864 million liras.
IC ICTAS Energy Investment Holding has a total installed capacity of 1,325 megawatts, entirely based on hydro sources for the domestic market.
3 Turkish liras equal approx. $1.