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Çalık Enerji sees greenlight to erect power plant in Turkmenistan

Turkmenistan Materials 27 March 2024 13:36 (UTC +04:00)
Aman Bakiyev
Aman Bakiyev
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ASHGABAT, Turkmenistan, March 27. Turkish Çalık Enerji company receives a financial guarantee for the construction of a combined-cycle power plant with a capacity of 1,574 MW in the Turkmenbashi city in the Balkan region of Turkmenistan, Trend reports.

According to an official source, the German Commerzbank and the Swiss Export Credit Agency (ECA) have provided a financial guarantee of $586 million for the above construction.

Thus, the business expects the building of this major energy facility in Turkmenistan to take 40 months.

During this term, Commerzbank will issue contractual bonds on behalf of Çalık Enerji to the recipient, Turkmen energy business.

The Swiss Export Risk Insurance (SERV) supports the export of electrical equipment from Switzerland by providing a counter guarantee that covers around half of the total cost of constructing a power plant.

Meanwhile, on October 28 last year, President of Turkmenistan Serdar Berdimuhamedov signed a decree authorizing Türkmenenergo State Electric Power Corporation to conclude a contract with Turkish Çalık Enerji for the construction of a 1,574 MW power plant in Turkmenbashi, which should be commissioned in May 2027.

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