Italgen sells Turkish subsidiary

Under the Italcementi Group strategy identifying the Turkish market as an area for the valorization of its assets, Italgen has made a positive evaluation of the offers received from several different operators to acquire its operations in Turkey.

Consistent with Italcementi programs to grow the Group energy business primarily in areas where its cement production operations are located, Italgen has reached an agreement with Enerjisa (joint venture Sabanci-Verbund) to sell its Italgen Elektrik Uretim subsidiary, which developed the plan for a 142.5 MW wind farm in Balikesir.

Over three years, Italgen has taken one of the largest projects in this sector in Turkey from the initial permitting stage to start-up of plant construction, by leveraging the expertise acquired in Bulgaria (where two wind plants for approximately 18 MW are now operational), Morocco (where a 5 MW wind field is under construction) and Egypt, where one of the Mediterranean’s largest wind energy production projects is currently under development, with an initial capacity of 120 MW.

Read the article online at: https://www.worldcement.com/europe-cis/05042011/italgen_sells_turkish_subsidiary/