EDF Geycek Wind Farm

Active

Prospective

Akuo Energy was planning the development of the 168 MW Geycek wind farm, near Kirsehir, Northcentral Turkey. The project was to comprise 44 turbines of 3.4 MW. Akuo Energy was the Turkish subsidiary of the French wind power developer Perfect Wind. Perfect Wind was in turn part of Spanish Iberdrola. In December 2012, when the project reached closure, the project was reported as being developed by EDF Energies Nouvelles, and Polat Enerji Sanayi ve Ticaret AS. Annual output was estimated at 384 GWh. Commissioning of the project was expected in late-2011, but construction did not start until 2013. Equipment was supplied by German REpower Systems under a contract signed in April 2010 with Al-Yel Elektrik, a subsidiary of Akuo Energy. Under the supply contract, REpower Systems was assigned the service and maintenance of the turbines for the first 12 years of the project. Project developer Al-Yel Elektrik received a 25 year production license in May 2008. The EPC contract was now awarded to Enercon and Siemens. The project reached financial closure in December (20th) 2012. Total project cost was estimated at US$254 million. Debt was provided by Garanti Bankasi, US$191 million. The remaining US$63 million was equity. The legal advisors to the sponsor were Fidan & Fidan Law Firm. http://www.polatenerji.com/eng/download/uretimlisans/geycek_eng.pdf http://www.polatenerji.com/eng/f_geycek.php

Energy

World Bank Group

Project

Wind, Raw Materials, Power Generation (CCGT), Government, Commercial