Turkey's Aksa Enerji secures 44 mln euro in funding for three wind farms

Turkish power producer Aksa Enerji Uretim [BIST:AKSEN] said on Tuesday it has arranged 44 million euro ($59 million) in financing from three local financial leasing firms for three wind power projects in Turkey.

Aksa Enerji will use the funding to purchase the remaining turbine equipment for the projects, it said in a bourse filing.

The Turkish company has secured 9.3 million euro in 10-year lease financing from Garanti Finansal Kiralama to purchase wind turbines from Spain's Gamesa for the 14 megawatt (MW) second phase of the 30 MW Atik wind farm.

It has also arranged 17.5 million euro in 129-month lease financing with Is Finansal Kiralama for the purchase of 24 MW of wind turbines from Gamesa for its 28 MW Kiyikoy wind farm.

Yapi Kredi Finansal Kiralama will provide 17.2 million euro in 10-year lease financing to Aksa Enerji to buy 24.6 MW of turbines from Vestas for the second phase of its 30 MW Sebenoba wind farm.

The Atik and the Sebenoba wind farms have 4.0 MW of installed capacity so far, while as much capacity is in the installation phase at the Kiyikoy wind farm.

Aksa Enerji plans to put in operation the Atik and Kiyikoy wind farms by the end of the year, while the start of operation of the Sebenoba wind farm is expected in the first quarter of 2014.

($ = 0.749 euro)

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