Weekly MENA Newsletter will be delivered to your email in PDF format every Friday (52 Issues per Year).
The European Bank for Reconstruction and Development (EBRD) has announced the completion of a $720mn, 15-year financing package to expand Turkey’s Efeler power station near the western town of Germencik into the country’s largest geothermal plant.
The plant is being built by Turkish renewables firm Guris Holding and will have generating capacity of 170MW when it is completed later this year. Three of the plant’s five units are already operational, and it will be one of the world’s 10 largest geothermal plants when fully operational.
EBRD says it is providing a $200mn loan to Guris, alongside loans of $325mn from Turkey’s Isbank, $130mn from Turkey’s TSKB and $65mn from the Black Sea Trade and Development Bank. EBRD says Turkey’s geothermal generation potential is around 4GW, of which only 427MW has been developed to date.
DON'T HAVE AN ACCOUNT?
NEED TO UPGRADE YOUR CURRENT SUBSCRIPTION?
By upgrading your Print or Digital subscription you will gain access to the MEES Archives Database with past articles and data dating back from 1984.UPGRADE