Turkey wind energy producer Polat Enerji for sale

The shareholders of Polat Enerji, one of Turkey’s largest wind farm operators, have put the company up for sale, Reuters reported, citing four people with knowledge of the matter.

Polat’s owners, who include Canadian pension fund PSP Investments and French firm EDF Energies Nouvelles, have employed U.K. bank Barclays to manage the sale, the news wire said on Wednesday. The two firms along with remaining partner Batıyel Enerji, which owns a 10 percent stake, want to sell up, it said.

“A local company is interested in the asset” and talks are at an advanced stage, one source said. Polat Enerji has 509 megawatts of installed capacity in wind power.

Reuters said Polat Holding, which owns Batıyel, EDF and Barclays did not immediately respond to questions. PSP Investments did not comment.

Turkey provides purchase guarantees to wind power producers through a feed-in tariff system. The scheme is expected to be replaced by lower-priced purchase guarantees, one industry source said, according to Reuters.