Turkish green energy co Baticim Enerji secures $40 mln loan from Akbank

ISTANBUL (Turkey), December 3 (SeeNews) – Turkish renewable energy producer Baticim Enerji Elektrik Uretim has signed a $40 million (32 million euro) loan agreement with local lender Akbank, Baticim Enerji’s affiliate company Baticim Bati Anadolu Cimento Sanayii [BIST:BTCIM] said.

Baticim Enerji will use the 10-year loan to finance balance settlements for its Kovada I, Kovada II and Hasanlar hydropower plants (HPP), cement producer Baticim Bati Anadolu Cimento said in a bourse filing on Tuesday.

The 8.25 megawatt (MW) Kovada I HPP, the 51.2 MW Kovada II HPP and the 10 MW Hasanlar HPP have an annual combined electricity generation of 110 million kWh, according to information on the website of Baticim Enerji.

Baticim Enerji aims to raise its total installed renewable energy capacity to 300 MW in 2015.

($ = 0.811 euro)

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