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English
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oda_MaterialEventDisclosureGeneralAbstract|
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Evet (Yes)
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Hayır (No)
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oda_DateOfThePreviousNotificationAboutTheSameSubject|
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15.06.2017-01.12.2017
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oda_DelayedAnnouncementFlag|
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Hayır (No)
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oda_ExplanationSection|
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oda_ExplanationTextBlock|
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As previously announced on the Public Disclosure Platform on 15.06.2017 and 01.12.2017, an agreement was executed with Borusan EnBW Energy Investments & Production and Borusan Consultancy & Joint Services for the sale of the 28 MWm (27 MWe) Kıyıköy Wind Power Plant for USD 60,100,000.00 ("Company Value").
USD 38,500,000.00 of the aforementioned value was received in cash as a lump sum payment; and it was agreed by the parties that the remaining balance of USD 21,600,000.00, payable for a capacity increase up to 72 MW, was to be paid after all necessary permits were received for the investment.
As the installed turbines in the license region will cast a shadow on the Marine Force's radar deployed nearby, and therefore hinder their operations, a new radar will be installed at a different location. The installment process is expected to take nearly 2 years and the estimated installment cost of USD 4,191,360.00 will be covered by Aksa Energy. Permits have already been received for 18 of the 20 turbines for the planned the capacity increase; the project has been launched; and today Aksa Energy has received USD 15,185,249.27 after deduction of the estimated radar installment cost.
The remaining balance is expected to be collected in accordance with the completion of approval processes for the remaining permits in 2020.
Respectfully announced to the public and our esteemed stakeholders.
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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.