German BayernLB extends EUR-26m loan to Enercon for Turkish wind project

(ADPnews) - Dec 14, 2010 - German bank Bayern LB said last week it had extended EUR 26 million (USD 34.9m) in export financing to wind turbine maker Enercon for the construction of a 30 MW wind farm in northwestern Turkey.

Enercon will use the proceeds of the 16-year loan to fund delivery costs for 15 wind turbines to the project site. The company has already established a unit for rotor blades and towers production on site, BayernLB said.

The Seyitali-Aliaga wind farm, located in Izmir province, is expected to become operational in 2011.

Turkish project company Doruk Enerji is carrying out the project. The firm is equally owned by wind power developer Demirer Holding and utility Polat Enerji, which is 50%-owned by French EDF Energies Nouvelles (EPA:EEN).

Turkey targets to reach up to 13,000 MW of installed wind power capacity by 2013 and 20,000 by 2020.

(EUR 1.0 = USD 1.343)

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