Limak acquired HPP Cetin project from Statkraft – Turkey, 22 September 2017

Norwegian energy company announced that it has sold a partially constructed hydropower plant Cetin to Turkish conglomerate Limak Holding which will invest some 400 million dollars in the project and put the plant into operation in 2021.
HPP Cetin in southeastern Turkey was to be Statkraft largest hydro project outside of Norway, but the company had to stop construction works due to anti-terrorist operation against Kurdish PKK in 2016. Only about 20 % of the project is completed and Statkraft wrote-off assets valued at almost 270 million dollars last year.

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