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Efeler Geothermal Project

Sector: Geothermal • Location: Aydin, Turkey

Source: World Bank Group

Project
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The project entails the development of a 170.7MW capacity geothermal power plant, located near the western town of Germencik, in the Buyuk Menderes Graben in Turkey, by Gurmat Electric Generation ("project company").

The Sponsor is Guris Holding which is owned by Guris Insaat ve Muhendislik, Mogan Enerji Yatirim and Gurenerji Elektrik Uretim. The power plant will feed electricity into Turkey's

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The project “Efeler Geothermal Project” is an infrastructure initiative in the Geothermal sector, located in Aydin, Turkey. Taiyo aggregates data on it from World Bank Group.

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Description

Description

The project entails the development of a 170.7MW capacity geothermal power plant, located near the western town of Germencik, in the Buyuk Menderes Graben in Turkey, by Gurmat Electric Generation ("project company"). The Sponsor is Guris Holding which is owned by Guris Insaat ve Muhendislik, Mogan Enerji Yatirim and Gurenerji Elektrik Uretim. The power plant will feed electricity into Turkey's growing national grid.The first unit of the power plant was commissioned on 26 August 2015. Information on the PPA, concession or contract award method are not available. The total project cost is USD $720 million to be financed in debt to equity ratio of 76/24. Financing comprises of USD $200 million 15-years EBRD term loan, USD $325 million 15-year Isbank term loan, USD $130 million 15-year TSKB term loan and USD $65 million 15-year term loan. Financial close occurred on 29 June 2015. i) https://ijglobal.com/data/transaction/32616/efeler-geothermal-project-170mw ii) http://www.thinkgeoenergy.com/1-bn-financing-around-the-corner-for-turkish-project/ iii)http://www.ebrd.com/news/2015/ebrd-cofinances-turkeys-largest-geothermal-power-plant-.html iv) Dealogic

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