Enerjisa-II

completed

The proposed IFC investment will extend corporate loans to EnerjiSA Enerji Üretim A.S. (“EnerjiSA” or the “Company”), secured with its underlying portfolio of energy assets and contracts, to finance the second phase of EnerjiSA’s capital investment program for the 2011 to 2014 period. IFC’s proposed investment will be in parallel with financing arranged by the the two European commercial banks WestLB headquartered in Germany and UniCredit headquartered in Italy. The Project consists of the construction of a portfolio of one natural gas-fired thermal plant (“TPP”) and – according to current planning – two hydroelectric power plants (“HPP”) and one wind power plant (“WPP”) in various locations throughout Western and Southern Turkey with total capacity of approximately 1.1 GW with an estimated cost of $1.2 billion (EUR1.0 billion) (“Phase II”), representing the second phase of Enerjisa’s overall capital investment aimed at developing 5.0 GW in generation capacity by 2015.