Zonguldak Coal Fired Power Plants

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In December 2008, Eren Enerji Elektrik Üretim AS (Eren Enerji), a subsidiary of Eren Holding secured a US$ 895 million loan facility from Isbank and Garanti Bankasi (US$ 447.5 million loan from each bank) for two coal fired power plants project in the city of Zonguldak, on the coast of Black Sea. Proceeds would be used for the construction, commissioning and operation of two 600MW each coal-fired thermal power plants which would be added to the 160 MW already being built. The 160 MW plant was to become operational in early 2009. The two 600 MW plants were expected to be completed by 2010 and 2011 respectively. The electricity generated would be supplied to the national grid. The total capacity of the three units would be 1360 MW. Eren Enerji Elektrik announced December 2010 the completion of its 1,360-MW coal-fired thermal power plant in the municipality of Catalagzi in the western Black Sea province of Zonguldak with the commissioning of two 600-MW units. The power plant comprised three units developed at a combined cost of $1.6 billion. The first 160-MW unit started to operate in July 2010 with the second and third units of 600 MW each commissioned in Q4 2010.