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Essentium Hydroelectric Plants

Sector: Wind • Location: Turkey

Source: World Bank Group

Project
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Essentium Group [Spain] developed four greenfield hydroelectric power plants with combined capacity of 45MW located in Giresun, Ardahan, Düzce and Kayseri. The plants were developed on a greenfield, build, own and operate (BOO) basis. Electricity generated by the wind farm was to be delivered to the Turkish national grid. As of end 2009, power purchase agreements (PPAs) remained to be finalized

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The project “Essentium Hydroelectric Plants” is an infrastructure initiative in the Wind sector, located in Turkey. Taiyo aggregates data on it from World Bank Group.

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Description

Description

Essentium Group [Spain] developed four greenfield hydroelectric power plants with combined capacity of 45MW located in Giresun, Ardahan, Düzce and Kayseri. The plants were developed on a greenfield, build, own and operate (BOO) basis. Electricity generated by the wind farm was to be delivered to the Turkish national grid. As of end 2009, power purchase agreements (PPAs) remained to be finalized. The total project cost for the four plants was EUR56 million (US$77.84 million). Financial closure was reached in September 2009 when it was reported that TSKB, a local bank, provided a EUR42 million (US$58.38 million) loan to Essentium Group in respect of the four hydro plants. ASC Hukuk advised TSKB and Yksel Karkin Law Office advised Essentium. Sources of revenue should be updated when PPAs are signed.

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