Fernas Group of Companies signed a memorandum of understanding to acquire Incesu Hydroelectric Power Plant from Aksa Enerji Üretim A.S. (IBSE:AKSEN) for $15 million on October 31, 2017. After the asset transfer agreement is signed with Fernas, all related approvals for the transfer of the asset, production licences, property along with all rights and liabilities required, as per the legislation, will be applied for. The process is expected to be concluded in November 2017. Fernas Group of Companies completed the acquisition of Incesu Hydroelectric Power Plant from Aksa Enerji Üretim A.S. (IBSE:AKSEN) on January 17, 2018.