Untitled Document

IC Holding of Turkey to invest in 17 hydropower plants

Turkey-based IC Ictas Holding said it will invest $1.14 billion in 17 hydropower plants in Turkey, wire services reported.

The construction of four hydro plants has been completed, reports indicate.

The combined capacity of all 17 hydro plants will be 510 MW, IC Holding officials told news agencies.

IC said 50 percent of the investment was secured in loans. The company recently announced it has signed a 13-year loan accord with two Turkish lenders for $253 million.

The loan secured from those banks will be used for investment in the construction of the Bagistas hydropower plant and dam project in eastern Turkey. Total investment for the project is estimated around $338 million, and the plant is expected to produce 500 million kilowatt-hours annually.

IC also will make a $100 million investment in wind power projects and has applied for a 600 MW project in thermal power plants, which will cost $800 million, wire services reported.

IC Holding owns the IC Ictas construction unit and has operations in energy, infrastructure, tourism, construction and industry.

For more hydropower news and information, click here

Related Articles

Developing the JD Pool pumped storage project

Update: Status of the JD Pool Pumped Storage Project

Public Utility District No. 1 of Klickitat County, Washington, is advancing development on i...
Baird joins Hatch

Baird appointed global strategic advisor at Hatch

The Hon. John Russell Baird P.C. has been appointed global strategic advisor at Canadian eng...

Hydro Currents

The top hydroelectric power news for June 2015

Applying Modern Technologies to Hydropower

Modern technologies like drones, computer models and phone apps are offering opportunities f...

Recent Comments

Hydro Slideshows

more slideshows >>  

Hydro Whitepapers

Industry News

Editor's Picks

Volume 34, Issue 5
Volume 23, Issue 3

Buyers Guide Products