EBRD supports Entek Elektrik hydro acquisition

The EBRD has issued a $55 million dual-currency loan – $35 million in US dollars and $20 million equivalent in Turkish lira – to Entek Elektrik Uretimi, a subsidiary of Koc Holding, to back its winning bid for two state-owned hydropower plants in Turkey: the 124MW Menzelet and 54MW Kilavuzlu plants. The EBRD loan is part of a larger TRY1.05 billion ($260 million) facility to finance the acquisition. Other lenders include Garanti, Isbank, Akbank, Yapı Kredi, UniCredit and ICBC Turkey.