Limak Pembelik HPP

active

Darenhes Elektrik was planning the development of the 130 MW Pembelik hydropower plant, Peri river, part of the Euphrates, between the Elazig and Tunceli province, Eastern Anatolia region. The project was to produce an annual 410 GWh. Darenhes Elektrik was a joint venture between Limak Group and Bilgin Enerji. Commissioning was expected in 2013. Darenhes received an operating license for the project until 2054, 41 years after exptected commissioning. The Turkish government opened up for tender concessions for 52 run-of river hydropower plants, between December 2009 February 2010. During the tenders, 615 bids were made and the deals were finalized in May/June 2010. Total project cost was estimated at $600 million for the Pembelik hydropower plant and the 130 MW Tatar hydropower plant. In June 2011, it was announced that Darenhes Elektrik secured a credit line of $415 million from Turkish consortium of TSKB, Is Bankasi, Ziraat Bankasi and YapiKredi towards the two projects. On a MW pro-rata basis, this would imply a total cost of $300 million for the Tatar hydropower plant, and a total debt package of $207.5 million.