Statkraft puts partly built Turkish Power plant up for sale

Statkraft is launching a process to sell its partly built Cetin hydropower plant in Turkey, with the deal expected by the end of this year, the state owned power produser said on June 13.

Statkraft said on February it has decided to suspend construction 517- megawatt plant in southeast Turkey due to security concerns.

Statkraft said it has chosen brokerage Garanti Securities, a subsidiary of Turkey`s Garanti bank, as financial adviser for the sale and had set an August 1 deadline for submitting indicative bids.

The plant, Statkraft`s biggest hydropower project outside Norway, is about one-third complete.

Once built, it could produce 1.4 terawatt-hourst (TWh) of electricity per year.

In February, Statkraft took a full charge of 2.1 billion Norwegian crowns ($254.82 million) due to suspention of the project.