Turkey Receives Syndicated Loan to Build Generating Assets
Azerbaijan, Baku, 17 July / corr Trend A.Badalova / Turkish power firm Enerjisa has secured an €865 million ($1.4 billion) syndicated loan to build a 1,900 MW portfolio of generation assets in Turkey, Energy Intelligence Group reports.
Enerjisa, a joint venture between Austria's Verbund and Turkish industrial group Sabanci Holding, will use the funds, which could increase to €1 billion before the end of 2008, to build 10 hydropower plants with installed capacity of about 1 GW and a 920 MW combined-cycle gas turbine plant in Bandirma. That would push up Enerjisa's installed generation base from 455 MW to 2,355 MW.
Enerjisa has set itself a target of winning 10% of the Turkish electricity market by 2015.
The syndicated loan came predominantly from Austrian investment banks, with help from Societe Generale and the World Bank's International Finance Corp. Enerjisa said the €865 million loan is the biggest financing package in the Turkish private power sector.