- Press Releases
January 2 (Renewables Now) - The European Bank for Reconstruction and Development (EBRD) is considering lending USD 100 million (EUR 83m) to Entek Elektrik Uretimi AS for the acquisition of two state-owned hydropower plants (HPPs) in Turkey.
A special purpose vehicle fully owned by Entek is preparing to buy the operating rights to the 124-MW Menzelet and 54-MW Kilavuzlu HPPs from the Privatization Administration of Turkey. It is looking for a financing package of some TRY 1.5 billion (USD 398m/EUR 331m), to be provided partly in local currency and partly in US dollars by the EBRD and commercial banks.
The bank is currently reviewing the move, according to project summary documents (PSDs) available on its website. The process started on December 28 and the target board date is February 14, 2018.
At present, Entek owns six HPPs totalling 87 MW and one 157-MW gas-fired power plant. The company is a subsidiary of the country's largest diversified conglomerate -- Koc Holding.
(USD 1.0 = EUR 0.830)
(TRY 1.0 = USD 0.266/EUR 0.220)