Statkraft sells partially-completed 517 MW Cetin hydroelectric plant

Statkraft, a Norwegian renewable energy operator, has sold its 517 MW Cetin hydroelectric plan located in Turkey to Limak Holding, which plans to invest US$400 million into completing the plant, which is expected to be commissioned by  2021.

The Çetin hydropower complex is located on the Botan River, a tributary of the Tigris River, within the borders of Siirt Province, Sirvan and Pervari Districts in Southeastern Anatolia Region of Turkey. The project is under development by Çetin Enerji A.Ş., a subsidiary of Statkraft Enerji A.Ş., which is owned by the Norwegian company Statkraft AS.

The Çetin complex includes two dams and two power stations. The main dam will be 145m high and the reservoir will cover approximately 20 km along Botan River and 10 km along Büyükçay. A smaller dam and power station will be built a few kilometers downstream the main dam.

Total installed capacity of the two power stations will be 517 MW (401-MW Main Cetin, with the 116-MW Lower Cetin to be located about six kilometers downstream). The estimated mean annual elecricity production will be 1,4 TWh which equals the electricity consumption of approximately 460.000 Turkish homes and 3% of the total hydropower production in Turkey.

We have recently reported about several hydropower transactions globally:

• BluEarth Renewables acquires three hydro facilities from Veresen Inc - Canada
• BC Hydro acquires Teck’s two-thirds interest in the Waneta Dam - Canada
• Odebrecht sells its 456 MW Chaglla hydro plant - Peru
• Sarawak Energy Berhad acquires 2,400 MW Bakun hydropower project - Malaysia
• Dolma Impact Fund acquires participation on the Lower Likhu project - Nepal
• Eagle Creek Renewable Energy acquired two hydro facilities from Madison Paper Industries - USA
• Hull Street Energy acquires of five hydroelectric generation facilities from Carlyle - USA