"AES Expands Global Reach into Turkey
Acquires Majority Stake in Leading Turkish Hydroelectric Developer
ARLINGTON, Va.--(BUSINESS WIRE)--The AES Corporation (NYSE:AES) today announced it has expanded into Turkey through the acquisition of a 51% interest in IC ICTAS Energy Group (“IC Energy”), a leading Turkish developer and producer of hydroelectricity. IC Energy currently owns and operates 26 MW of hydroelectric power capacity, and has an additional 390 MW of hydro power capacity under development. The remaining 49% of IC Energy will continue to be owned by IC Investment Holdings A.S. Financial terms of the transaction were not disclosed."
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