EBRD may fund 115.4 MW of wind capacity in Turkey

The European Bank for Reconstruction and Development (EBRD) is considering allocating a senior loan to support the deployment of 115.4 MW of wind capacity in Turkey by a joint venture of German utility EnBW Energie Baden-Wuerttemberg AG (ETR:EBK) and Turkish industrial group Borusan Holding AS.

The status of the proposed financing is “exploratory” with a final approval due by July 3.

Up to USD 60 million (EUR 55.3m) will be provided, as a part of a USD-120-million financing package, to Borusan EnBW Enerji Yatirimlari ve Uretim AS. The loan has a 14-year tenor, a notice on the lender’s website showed on Friday.

The loan will be used for the development and construction of 35.4 MWm/35.4 MWe of wind capacity expansion at Borusan EnBW Enerji’s operating Balabanli plant in Tekirdag and 80-MWm/80-MWe Pelit project in Sivas. The total cost of the initiative is estimated at USD 152.3 million.

Borusan EnBW Enerji is a diversified renewable energy company with a total installed capacity of 730 MW. The entity is equally owned by EnBW and Borusan.

(USD 1 = EUR 0.922)

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