ETI ELEKTRIK, TURKEY

In February 2010, Cogentrix finalized its acquisition of Eti Elektrik (“Eti”), a joint stock company organized under the law of Turkey, completing an effort originally begun in October 2008. Eti, headquartered in Istanbul, owns a portfolio of in-construction, licensed, and license-pending Turkish power generating assets. Today the portfolio includes approximately 2,300 MW of hydro, wind, and thermal projects, 480 MW of which are high value hydroelectric plants located throughout Turkey.

Cogentrix acquired Eti as a vehicle for the development, construction and ownership of renewable generation. In this capacity, Cogentrix will lead efforts in acquiring financing for the various projects, and manages Eti directly through its own employees and indirectly through its contracted management counterparty, Habboush Group. Today, in addition to the Yavuz (23.4 MW), Midilli (33.4 MW), and Akinci (102.3 MW) plants under construction, Eti holds final approved licenses and the attendant obligations for an additional 112.6 MW of hydro capacity comprised of projects at Yagmur, Armagan, Umut, Ahmetcik, Poyraz and Catkoy.

Back to portfolio main page