October 11 (SeeNews) - RES Anatolia, the Turkish unit of UK's Renewable Energy Systems (RES) Group, has sold a 50% stake in a 120 megawatt (MW) wind power project in Turkey's Marmara region to local conglomerate STFA Investment Holding, Pragma Corporate Finance said.
Under the deal, STFA acquired 50% of the wind project's owner Evrencilik Ruzgar Enerjisinden Elektrik Uretim Ltd from RES Anatolia, Turkish investment banking firm Pragma, which acted as financial advisor for RES, said in a statement.
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The Evrencilik wind project, located in Turkey's northwestern province of Kirklareli, obtained an electricity generation license in February 2012, Pragma said.
RES Group said in March the project was expected to enter the construction phase in the fourth quarter of 2014.