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Turkey’s Enerjisa has approached the EBRD for a TL550mn ($260mn) loan to help finance the $800mn Alpaslan II dam and hydropower project on the Murat river, a tributary of the Euphrates in Mus Province, eastern Anatolia. EBRD says Turkey’s Garanti Bank would provide $269mn, with $280mn to be financed by equity or shareholder loans.
Key to receiving EBRD support will be the project’s environmental impact assessment. The project will involve building a 116ms-high dam and a 280MW hydropower plant. Work is due to begin this year for 2Q17 start-up. Turkish hydro projects have often faced strong community and environmental resistence; those tapping the Tigris and Euphrates have attracted the ire of downstream riparians Iraq and Syria. (CONTINUED - 444 WORDS)