Bloomberg News

Agaoglu of Turkey Plans to Sell 147 MW of Wind Power Plants

March 02, 2012

Turkey’s Agaoglu Group, which has interests in construction, tourism and energy, is in final stages of talks with eight energy and private equity investors to sell 147 megawatts of wind plants this month, chairman Ali Agaoglu said.

The Istanbul-based group is negotiating with four energy companies and four private equity funds, Agaoglu, the 10th richest man in Turkey according to Forbes, told reporters yesterday in Istanbul in embargoed comments. Potential investors include international companies, he said.

Agaoglu agreed yesterday to buy seven turbines from Vestas Wind Systems A/S (VWS), the world’s biggest wind-turbine maker, to add 21 megawatts to the 126 megawatts at its two plants in northwestern and southern Turkey. Turkey has a total wind power capacity of 1,700 megawatts, Agaoglu said.

“I think we will complete the sale in March,” Agaoglu said. “We want to use the cash to invest in other energy projects.”

The group targets a power capacity of at least 1,000 megawatts by 2015 by investing 1 billion euros ($1.3 billion), Agaoglu said. The group holds licenses for as much as 700 megawatts of wind power and more than 300 megawatts of hydroelectric power, including 200 megawatts in Georgia, he said. The group will raise total capacity to 5,000 megawatts later 2015, according to Agaoglu.

To contact the reporter on this story: Ercan Ersoy in Istanbul at eersoy@bloomberg.net

To contact the editor responsible for this story: Aydan Eksin at aeksin@bloomberg.net


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