EBRD provides loan to support privatisation of Turkish hydropower plants

• 6 years ago (2018-03-15)
• David Flin

Hydropower 131 Middle East 326

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The European Bank for Reconstruction and Development (EBRD) is supporting the privatisation of state-owned hydropower plants in Turkey with a $55 million loan to a subsidiary of Koc Holding. Entek Elektrik Üretimi, the winning bidder of a competitive privatisation tender, is acquiring two hydropower plants in Kahramanmaras province; the 124 MW Menzelet plant and the 54 MW Kilavuzlu.

The EBRD loan is part of a dual-currency financing package valued at $260 million. Other lenders include: Garantibank, Isbank, Akbank, Yapikredi, Unicredit, and ICBC Turkey.

Arvid Tuerkner, Managing Director for Turkey with EBRD, said: “Privatisation is a key part of the Turkish Government’s strategy to liberalise the country’s energy sector. Our investment supports the goal of increasing the participation of private suppliers in power generation and reinforces the role of renewable energy in the sector.”