Asagi Kalekoy Hydroelectric Power Plant

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The funds will be used for the development of the 500 MW Asagi Kalekoy Hydroelectric Power Plant located in Eastern Turkey, Genc district, Bingol province. The ownership of the project is equally split between two sponsors, namely Cengiz Holding and Ozaltin. The project owners will develop the plant via its SPV - Kalehan Genc Enerji Uretim A.S. Upon completion, the plant will produce 1.1 billion KWh of energy annually. Poyry has been awarded detailed design services assignment for the project. The project is worth $625 million and is funded by 80 per cent debt and 20 per cent sponsors' equity. Debt funding, amounting to $500 million, is provided by Garanti Bank and Ziraat Bank, equally split between them. The debt has a tenor of 14 years. https://ijglobal.com/data/transaction/37291/asagi-kalekoy-hydro-power-plant-500mw http://www.kalehan.com.tr/tr/projelerimiz/asagi-kalekoy-baraji-ve-hes.html http://www.cengiz.com.tr/en-us/Sectors/Energy/Pages/Kalehan-power-genaration-trade-co-inc.aspx http://www.poyry.com/news/poyry-awarded-detailed-design-services-assignment-for-hydroelectric-power-plant-turkey