Turkey to Sell off Power Plants to Boost Investment

9 March 2010 (Last Updated March 9th, 2010 18:30)

Turkey plans to sell off nine groups of power stations with installed capacity of up to 2,795MW to boost revenues and attract private investment in the energy sector. Turkey's Privatisation Administration also seeks to sell four thermal power plants, the largest of which has a capacity

Turkey plans to sell off nine groups of power stations with installed capacity of up to 2,795MW to boost revenues and attract private investment in the energy sector.

Turkey's Privatisation Administration also seeks to sell four thermal power plants, the largest of which has a capacity of 1,120MW according to government sources, reports Reuters.

At least one of the nine groups of power stations is expected to be sold in the second half of 2010.

Turkey needs between $3bn to $5bn of annual investment over next five years to avoid chronic power shortages as consumption goes up this year.

The country aims to beat a 10.4bn lira ($6.8bn) sell-off target according to Reuters.