Banks Line Up for Major Turkish Geothermal Deal (IJ Global)
Debt is taking shape for the $970 million 123.3 MW Efeler geothermal development in Turkey, with financial close mooted for mid-2015.
Gurmat Elektrik formed in 1999 to construct and operate a set of geothermal power plants on the Germencik geothermal field in Western Anatolia. The first plant – the 47.4 MW Germencik – has been in operation since 2009. The concession area is 28 km2 with the operational plant occupying the northern part and southernmost quarter, and the expansion the remaining sections.
Construction on the plant is already underway, and it is expected to enter commercial operation in June 2015. Once operational it will feed electricity into Turkey's growing national grid.
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