E.ON-Sabanci joint venture to sell power plants in Turkey

Enerjisa, a joint venture between Sabanci Holding and E.ON, plans to sell three hydroelectric power plants to rationalise its portfolio and cut debt, and has appointed banks to perform the sales.

Included for sale are the 400 MW Pervari, 280 MW Alpaslan and 168.4 MW Incir plants, all of which are still under construction, Reuters quotes unnamed sources.
"The sale represents an optimisation of Enerjisa's portfolio. It also wants to cut its indebtedness," one of the sources said.

The three plants are expected to be operational by the first quarter of 2018, according to the company's website.

Earlier this month the head of Sabanci's energy business , Mehmet Gocmen, said the conglomerate wanted to reduce debt levels at Enerjisa to prepare it for an eventual initial public offering.

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