The European Bank for Reconstruction and Development (EBRD) said it is
considering providing a senior loan of up to $150 million (118 million euro) to
Turkish firm Gurmat Elektrik Uretim for the development of a 123.3MW geothermal
power plant (GPP) in the western Turkish province of Aydin.
The project
is estimated at $970 million. The remainder of the required funding is expected
to come from international financial institutions, commercial banks, sponsors’
equity or shareholder loans, the EBRD said in a statement on
Wednesday.
The proposed EBRD financing is pending final review scheduled
for November 26.
Gurmat Elektrik was established in 1999 to develop and
operate a set of geothermal power plants in the Germencik geothermal field in
the western Anatolia region. The company’s first 47.4 MW plant has been in
operation since 2009.
Gurmat Elektrik is directly or indirectly owned by
the Yamanturk Family through Mogan Enerji with 85%, Guris Holding and Guris
Insaat with 4.72% each, EBRD said.
Source: SeeNews