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. (CONTINUED - 333 WORDS)