Turkish energy group signs loan deal for wind power plant
Zorlu Energy Group, a Turkish power project developer, has signed a loan deal with international finance corporations for the construction of a wind power plant in southern Turkey, the group said on Monday. The EUR130 million loan, which would be provided by International Finance Corporation (IFC), European Bank for Reconstruction and Development (EBRD) and European Investment Bank (EIB), will be used in the construction of the 135 mega-watt wind farm on the Mount Amanos near Osmaniye town of Adana province, Anadolu Agency reports.
As Reuters adds it will be Turkey’s largest wind farm, with 54 wind turbines and will reduce the country's dependency on imported fuel, the EBRD said. The project will significantly boost Turkey’s current installed wind generation capacity of around 500 megawatts by about 30 percent.
The EBRD may step up plans to invest EUR450 million in Turkey by the end of 2010 as it considers expanding to help mitigate the financial crisis, a spokesman said, adding it was also looking at loans to Turkish banks to support small business finance.... The World Bank said last year it planned 'substantial' financing for the Turkish energy sector, and IFC Director for Southern Europe Shahbaz Mavaddat, who has just finalized two similar energy sector deals in Albania, said the package could help mobilize other investors, says Financial Times.