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Goldman-Backed Aksa Expands to Africa on Tight Margins in Turkey

Aksa Enerji Uretim AS, a Turkish power producer in which Goldman Sachs Group Inc. holds a 17 percent stake, clinched its foreign deal as tight domestic margins are causing losses on its dollar-denominated debt.

The second-largest electricity producer in Turkey is in talks to construct as many as six power plants in Africa after it announced a deal to build a 370-megawatt facility in Ghana, Cuneyt Uygun, chief executive officer of the Istanbul-based company, said Monday in a phone interview.