Polat Soma II Wind Farm

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Soma Enerji was planning the development of the 61.6 MW Soma II wind farm, Manisa province. The project was to comprise 77 turbines of 0.8 MW. Soma II was an addition to the 79.2 MW Soma I wind farm, comprising 99 turbines of 0.8 MW and commissioned in November 2010. Soma Enerji was a wholly-owned subsidiary of Polat Enerji. Polat Enerji was 50% owned by French EF Energies Nouvelles, and entrepreneur Adnan Polat. Annual output for the whole farm was estimated at 405 GWh. Commissioning was expected in early-2012. Commissioning was realized in January 2012. Equipment was to be supplied by German Enercon. Financial close was reached in February 2011.Construction started in February 2011. The project leased 1.150.000 m2 from the Ministry of Forestry. The project was divided in EUR62.45 million ($83 million) debt and EUR10.45 million ($13.9 million) equity. The debt included a EUR58.45 million ($77.7 million) 14 year term loan and a EUR4 million ($5.3 million) 1 year revolving credit, arranged by Garanti bank. There was a 2 year grace period. Total project costs were thus EUR72.90 million ($97 million). http://www.polatenerji.com/eng/f_soma.php