Related Companies
|
[]
|
||||||||
Related Funds
|
[]
|
||||||||
English
|
|||||||||
oda_MaterialEventDisclosureGeneralAbstract|
|
|
||||||||
oda_UpdateAnnouncementFlag|
|
|
Evet (Yes)
|
|||||||
oda_CorrectionAnnouncementFlag|
|
|
Hayır (No)
|
|||||||
oda_DateOfThePreviousNotificationAboutTheSameSubject|
|
|
11.12.2023
|
|||||||
oda_DelayedAnnouncementFlag|
|
|
Hayır (No)
|
|||||||
oda_AnnouncementContentSection|
|
|
||||||||
oda_ExplanationSection|
|
|
||||||||
oda_ExplanationTextBlock|
|
In relation to the hybrid solar power plant (SPP) projects at the investment stage, our company, Akfen Renewable Energy Inc. ("Akfen Renewable Energy" or "the Company"), presents information on the latest developments, with updates on the processes outlined in our Public Disclosure Platform (KAP) announcement dated 11.12.2023.
As of February 9, 2024, a Turnkey Engineering, Procurement, and Construction (EPC) contract ("Contract") for a 26 MW hybrid SPP investment between our company's 100% subsidiary, İmbat Enerji A.Ş., and the contractor Elin Yenilenebilir Enerji Sistemleri A.Ş. has been signed.
In this context; within the scope of hybrid solar power plant investments located in Osmaniye province by Imbat Energy Inc., a wholly-owned subsidiary of our Company, on February 8, 2024, the following investment incentive certificates have been obtained from the Ministry of Industry and Technology of the Republic of Turkey:
- For the Demirciler Hybrid SPP project with an installed capacity of 13.27 MW, a 3-year investment incentive certificate with number 564651,
- For the Sarıtepe Hybrid SPP project with an installed capacity of 12.98 MW, a 3-year investment incentive certificate with number 564650.
Within the scope of investment incentives, VAT and stamp duty exemptions will be utilized as support elements.
As part of our company's growth strategy, Contract has been signed for the Hybrid SPP projects currently in the investment stage, and the construction process has commenced. Our new hybrid SPPs will be able to benefit from the Renewable Energy Resources Support Mechanism (YEKDEM) throughout the remaining duration of the facility on which they are installed, enjoying the fixed price guarantee based on the US Dollar.
Thus, our investments in Hybrid SPP projects, which will increase our current installed capacity from 699 MW to a total of 725 MW, are expected to contribute positively to our future cash flows in alignment with our company's risk management policy based on predictable cash flow. It is anticipated that the completion of these investments, planned for 2024, will contribute to our company's revenue and operating profit in 2025.
As announced in our Public Disclosure Platform (KAP) statement dated 11.12.2023, the tender and investment process preparations for our other hybrid solar power plant and wind power plant capacity increase projects, aimed at raising our total installed capacity to 860 MW, are currently ongoing. First of all, in the coming weeks, we aim to complete the tender processes of our other Hybrid SPP projects. Significant developments throughout this process will be communicated to our investors.
|
We proclaim that our above disclosure is in conformity with the principles set down in “Material Events Communiqué” of Capital Markets Board, and it fully reflects all information coming to our knowledge on the subject matter thereof, and it is in conformity with our books, records and documents, and all reasonable efforts have been shown by our Company in order to obtain all information fully and accurately about the subject matter thereof, and we’re personally liable for the disclosures.