Turkey:

EBRD Co-Finances 170 MW Efeler Geothermal Power Plant (The Financial)

When completed later this year, the plant will reach 170 MW capacity, making it one of the ten largest geothermal plants in the world.

The European Bank for Reconstruction and Development (EBRD) is helping Turkey establish renewable energy as a viable component of its energy mix with a comprehensive long-term financing package for the country’s largest geothermal power plant.

The Efeler geothermal plant is being built by a subsidiary of Güriş Holding, a leading Turkish renewable energy company. The plant’s five units – three of them already operational – are situated near the western town of Germencik, in the Buyuk Menderes Graben, the area in Turkey with the greatest potential for geothermal energy.

The EBRD has played a key role in securing 15-year financing for the project. The Bank is providing a US$ 200 million loan, alongside additional loans of US$ 325 million from Türkiye İş Bankası AŞ (İşbank), US$ 130 million from Turkiye Sınai Kalkınma Bankası A.S. (TSKB) and US$ 65 million from the Black Sea Trade and Development Bank (BSTDB).

Read More......