Baku, Azerbaijan, June 29
By Anvar Mammadov - Trend:
The European Bank for Reconstruction and Development (EBRD) allocated a long-term financial package to a project for creation of the Efeler largest geothermal power plant in Turkey, said the EBRD in a message June 29.
The EBRD allocated a $200 million loan for a period of 15 years in addition to the loans granted to the Turkiye İs Bankasi ($325 million), Turkiye Sinai Kalkinma Bankasi ($130 million) and the Black Sea Trade and Development Bank ($65 million).
The Efeler power plant is being built by the subsidiary of the Gurish Holding, one of the leaders in the renewable energy sources in Turkey.
Turkey's overall geothermal electricity production potential stands at four gigawatts, while the existing capacity reaches 427 megawatts.
The EBRD also said that by 2023, Turkey's capacity for hydropower production would rise by 34 gigawatts, the wind power production - by 20 gigawatts, the solar energy production - by 5 gigawatts, the energy production from biomass - by one gigawatt and the geothermal energy production - by one gigawatt.
The EBRD started to invest in Turkey in 2009. Over the past six years, the EBRD has invested over $5.5 billion in Turkey to finance more than 150 projects.
Edited by CN
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