EBRD helps finance expansion of Turkey's Kiyikoy wind farm

In:

Renewable energy

Region:

Europe

The European Bank for Reconstruction and Development has agreed a $37 million loan to finance the expansion of the Kiyikoy wind farm in the northwest of Turkey. ICBC Turkey is providing a loan for the same amount.

The financing will be used for the development, construction and operation of a 72MW extension to the 28MW wind farm, located on the west coast of the Black Sea in the Kirklareli province.

The developer is Alenka Enerji Uretim ve Yatirim, set up by Borusan EnBW Enerji, a joint venture between the German utility Energie Baden-Württemberg (EnBW) and the Turkish conglomerate Borusan Holding.

The extension of the Kiyikoy wind farm is a step towards the government’s objective of installing 27GW of renewable energy capacity other than hydropower by 2023, of which 20GW is expected to be wind energy.

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