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| Efeler 1 Gathering System, by Kristi McGinley - 3rd Place GRC Photo Contest 2016. Well pad to power plant snapshot of the Efeler 1 gathering system located in Germencik, Turkey. Owner and operator Gurmat. |
The Asian Infrastructure Investment Bank (AIIB), the European Bank for Reconstruction and Development (EBRD) and the Black Sea Trade and Development Bank (BSTDB) are set to provide financing for Gürmat Elektrik’s EFELER geothermal plant expansion.
The three banks have agreed to provide a financial package of $350m for three new units at the EFELER plant.
Out of the three new units, EFE-6 (22.6MW) and EFE-7 (25MW) have already commenced their operations, while EFE-8 with a capacity of 50MW is still under construction.
Gürmat Elektrik, a renewable energy subsidiary of Güris Holding, will receive $100m loan from the AIIB, while a $60m loan will be provided by EBRD and $20m loan by the BSTDB.
Additionally, Turkey’s commercial lender Isbank is providing $90m loan, and the Industrial Development Bank of Turkey TSKB and ICBC Turkey are offering $50m and $30m respectively.
The expansion will see the addition of nearly 100MW to the power plant, and help Turkey diversify its energy mix. The plant’s eight units will have a total installed capacity of 260MW when they are completed in 2020.
