EBRD – one of the key supporters of geothermal development in Turkey
Efeler Geothermal Plant, Turkey (source: Guris Holdings)
Alexander Richter
25 Jan 2016
Not only since its newly launched PLUTO geothermal development finance framework, EBRD has been a driving force in financing Turkey's geothermal development. The bank has been involved in financing the development of at least 7 projects in the country.
The recent announcement of a new Private Sector Early Stage Geothermal Development Framework, or PLUTO is a major step in not only continuing geothermal development but helping to even further accelerate it.
PLUTO is a framework set up to finance exploration activities and to provide technical assistance in applying best global practices, hence reducing technical risks at this stage, so Adonai Herrera-Martinez of the European Bank for Reconstruction and Development (EBRD) in a recent interview with Anadolu Agency.
In the interview he provides a few more details on the program and what EBRD plans to achieve for Turkey’s geothermal sector.
One element sticks out in the interview and that is the strong support of the bank for development in Turkey so far. EBRD not only provided a $200 million loan to Efeler, the largest geothermal plant in Turkey, but also financed – through Turkish commercial banks – six geothermal plants of Tuzla, Gumuskoy, Pamuoren, Babadere, Alasehir and Umurlu.
Make sure to check out the full interview through the link provided below.
Turkey has increased its geothermal power generation capacity from 30 MW in 2008 to now 635 MW, as of January 2016.
ThinkGeoEnergy is currently working on a new geothermal market report on Turkey, which we expect to release in May 2016.
Source: AA Energy News Terminal
