Içtas Enerji YEKA Erzin-II Hatay 100MW Solar PV Project

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This project comprises the development, construction, and operation of a solar photovoltaic (PV) plant with 100 MW of installed capacity (135.6MWp) in the municipality of Erzin, in the province of Hatay, Turkey. It was awarded to IC Içtas Enerji in June 2022 through the YEKA GES-4 reverse auction under a license period of 30 years. The auction allocated 700 MW of capacity across 12 solar PV projects under a ceiling price of up to TRYkr 95/kWh. The Project secured an inflation and foreign exchange (FX)-linked tariff of TRYkr 58.4/kWh. The Sponsor of the Project is IC Içtas Group (the Group), a Turkish conglomerate. Total investment stands at $145 million, of which AIIB and Türkiye Sinai Kalkinma Bankasi A.S. (TSKB) provide $32.5 million loan each and $25.61 million comes from DZ Bank. Financial approval took place on August 22, 2024. https://www.aiib.org/en/projects/details/2024/approved/Turkiye-Ictals-Enerji-YEKA-Erzin-II-Hatay-100MW-Solar-PV-Project.html; https://www.aiib.org/en/projects/details/2024/_download/Turkiye/AIIB-PSI-P000796-Turkiye-Ictas-Enerji-YEKA-Erzin-Hatay-100MW-Solar-PV-Project1.pdf; https://www.wfw.com/press/wfw-advises-le-erzin-on-eca-backed-e23m-turkish-pv-project-financing/ https://www.aiib.org/en/projects/details/2024/approved/Turkiye-Ictals-Enerji-YEKA-Erzin-II-Hatay-100MW-Solar-PV-Project.html; https://www.aiib.org/en/projects/details/2024/_download/Turkiye/AIIB-PSI-P000796-Turkiye-Ictas-Enerji-YEKA-Erzin-Hatay-100MW-Solar-PV-Project1.pdf; https://www.wfw.com/press/wfw-advises-le-erzin-on-eca-backed-e23m-turkish-pv-project-financing/