EBRD considering $70 m loan for 65 MW extension of Kizildere III geothermal plant, Turkey

Kizildere geothermal plant, Turkey (source:
Alexander Richter 12 Dec 2016

EBRD is preparing a $70 million loan for the 65 MW expansion of the Kizildere III Unit 2 geothermal power plant by Zorlu Enerji in West Anatolia, Turkey.

The European Bank for Reconstruction and Development (EBRD) is preparing for a $70 million loan for the expansion of the Kizildere III geothermal power plant.

The loan would be provided to Zorlu Dogal Elektrik Uretimi A.S. (Zorlu Dogal) guaranteed by Zorlu Enerji Elektrik Uretimi A.S. (Zorlu Enerji) and Zorlu Holding A.i. (Zorlu Holding).

The transaction is part of an up to USD 270 million financing package to be used for the construction of the 70MW Kizildere III Unit 2 geothermal power plant located in West Anatolia, Turkey.

The project would help to demonstrate new replicable activities through the use and market expansion of innovative technologies including triple-flash turbines and Organic Rankine Cycle, the latter being applicable to many other sectors in the form of waste-heat-recovery systems; increase in private ownership in the generation sector in Turkey, still dominated by stateowned EUAS; and setting standards for business conduct with the implementation of GHG emission abatement safeguards to limit carbon emission associated to non-condensable gases dissolved in geothermal resources.

It is expected that the loan will go through the board of EBRD for approval in late February 2017.

Further details via the link below.

Source: EBRD