EFELER Geothermal Power Plant Capacity Extension (97.6MW)

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The project involves the expansion of the EFELER, Turkey’s largest geothermal power plant by adding 3 new units of total 97.6 MW capacity. The plant is located in western Turkey, in the region of the Büyük Menderes Graben basin Gurmat Elektrik Uretim AS, a subsidiary of Güris Holding, will receive a package of $ 350 million from multilateral and commercial banks as follows: $ 100 million loan from the the Asian Infrastructure Investment Bank (AIIB), $ 60 million loan from the European Bank for Reconstruction and Development (EBRD), $ 20 million loan from the Black Sea Trade and Development Bank (BSTDB), $ 90 million loan from Türkiye Is Bankasi (Isbank), $ 50 million from the Industrial Development Bank of Turkey TSKB and $ 30 million from ICBC Turkey. Financial close was announced on 25 July 2019. When fully completed in 2020, the 8 units of the plant will have a total installed capacity of 260 MW. https://www.ebrd.com/news/2019/aiib-ebrd-and-bstdb-cofinance-expansion-of-turkeys-largest-geothermal-power-plant-.html https://www.aiib.org/en/news-events/news/2019/20190725_001.html https://www.bstdb.org/our-projects/project-search/project-summary?ProjectID=OP/18/0065