The Privatization Administration has announced the privatization of 10 hydroelectric power plants owned by Elektrik Üretim A.Ş. The privatizations will be made in five separate groups. The Privatization Administration's notice regarding the subject was published in the Official Gazette yesterday, and it said that a sealed-bid auction would be held for the transfer of the operating rights of the hydroelectric power plants.

According to the announcement, Karacaören 1 and Karacaören 2 will be in Group 1, Kepez 2 and Manavgat will be in Group 2, Fethiye will be in Group 3, Kadıncık 1 and Kadıncık 2 will be in Group 4, and Doğankent, Kürtün and Torul will be in Group 5 in the auction.

Security deposits for the groups are TL 25 million ($9 million) for Group 1, TL 20 million for Group 2, TL 10 million for Group 3, TL 30 million for Group 4, and TL 50 million for Group 5. The preliminary qualification and bid deadlines for the groups are Oct. 27, Oct. 14, Oct. 5, Nov. 10 and Nov. 20, respectively.

The tender commission will hold negotiation sessions with bidders if necessary. The tender could be finalized as an open auction with the participation of bidders that have been negotiating -- if the negotiations end unsatisfactorily. The tender is only open to legal entities and joint venture groups; individuals and investment funds are allowed to participate in the auction as part of a joint venture. Bidders will be allowed to make separate bids for multiple groups in the tender, but the hydroelectric power plants will not be auctioned separately from their respective groups.