The Sale of Kıyıköy WPP Completed, with TSKB as the Advisor
The assignment of the entire shares of Beşiktepe Enerji Üretim ve Ticaret A.Ş. to İş Portföy Yönetimi A.Ş. Utilities Venture Capital Mutual Fund and Kangal Elektrik Enerji Üretim ve Tic. A.Ş. is completed, with TSKB acting as the financial advisor.
TSKB served as the sell-side advisor in the transfer of the entire shares of Beşiktepe Enerji Üretim ve Ticaret A.Ş., which was owned by the Adalı Family and Adalı Holding, to İş Portföy Yönetimi A.Ş. Utilities Venture Capital Mutual Fund and Kangal Elektrik Enerji Üretim ve Tic. A.Ş.. The company generated more than 160 m kWh of electricity annually at Kıyıköy Wind Power Plant, which has an installed capacity of 45 MW. Such a generation capacity exclusively covers the annual electricity consumption of 50,000 families. Kıyıköy WPP is one of the most efficient wind farms in Turkey. Following the acquisition, it is planned to attain an installed capacity of 100 MW after a capacity increase of 55 MW.
Ali Yazgan, Head of Corporate Finance at TSKB, provided information on the sales process. "At TSKB, we have 70 years of experience, and use such experience to offer financial advisory services in national and international mergers and acquisitions. TSKB's inclusive and sustainable perspective is also decisive in our investment banking services. We are aware of the importance of the diversification of energy sources, that is, the significance of alternative energy sources such as wind power, to ensure Turkey soundly meets its energy needs. We always prioritize such investments. We are delighted to take part in the selling of Kıyıköy WPP, one of the leading WPPs in Turkey. The power plant is acquired by İş Portföy Yönetimi A.Ş. Utilities Venture Capital Mutual Fund and Kangal Elektrik Enerji Üretim ve Tic. A.Ş.. Its capacity will be increased to make a greater contribution to Turkey's renewable power generation."
