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Niksar Hydropower Plant

Sector: Hydro • Location: Turkey

Source: World Bank Group

Project
Active

The Niksar Hydropower Plant project entailed the development of a 40.2MW hydroelectric power plant in the Kelkit district of Tokat province, near the Black Sea. The sponsors for the project were AES Corp [United States] and Ictas Construction [Turkey]. The EPC works were undertaken by Ictas Construction. The greenfield project was developed on a build, own and operate (BOO) basis, with output to b

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The project “Niksar Hydropower Plant” is an infrastructure initiative in the Hydro sector, located in Turkey. Taiyo aggregates data on it from World Bank Group.

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Description

Description

The Niksar Hydropower Plant project entailed the development of a 40.2MW hydroelectric power plant in the Kelkit district of Tokat province, near the Black Sea. The sponsors for the project were AES Corp [United States] and Ictas Construction [Turkey]. The EPC works were undertaken by Ictas Construction. The greenfield project was developed on a build, own and operate (BOO) basis, with output to be supplied to the national grid. The total project cost was US$169.5 million. Financing comprised US$93 million in commercial debt and US$76.5 million in equity. The US$93 million debt came in the form of a 12-year term loan. Garanati Bank was the sole lender on the tranche. The loan agreement was signed on December 16, 2009. The tenor was 18 years, with 1 year grace period. Construction on the project is expected to begin in early 2010 and will be completed by May 2012.

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