Zorlu Energy secures $190m loan for Kizildere III geothermal plant

Zorlu Energy secures $190m loan for Kizildere III geothermal plant Kizildere geothermal plant, Turkey (source:
Alexander Richter 7 Apr 2017

Zorlu Energy secures $190 million loan for the 66 MW extension of its Kizildere III geothermal power plant in Denizli and Aydin, Turkey. The loan is provided by EBRD, Akbank, TKB and TSK.

In news before the weekend, Zorlu Energy reports having signed a $ 190 million loan contract for the financing of K?z?ldere III Geothermal Power Plant by Zorlu Natural Electricity Generation Inc. , a wholly-owned subsidiary.

In its announceemnt, the company shares details on the loan, stating a 13-year tenure, with two years being non-repayable.

In the official statement it says, “Our company, a wholly owned subsidiary of Zorlu Natural Electricity Generation Inc., is establishing Karata?, located in the province of Denizli and Aydin provinces. It is planned to be used for the financing for the 65.5M Unit 2 of the Kizildere III Geothermal Power Plant. The loan agreement for $190 million was signed with the European Bank for Reconstruction and Development, Akbank TAS, Türkiye Is Bankasi AS and Türkiye Sinai Kalkinma Bankasi AS. ”


Source: Anadolu Agency