$1 bn financing around the corner for Turkish project
Istanbul, Turkey (source: flickr/ John Virgolin, creative commons)
Alexander Richter
5 Mar 2015
The 123MW Efeler geothermal development in Turkey is moving along since Gurmat Elektrik has signed the debt financing for $970 million and the financial close could take place within the next month.
Great news come from turkey, where the Efeler geothermal project, seems to be moving forward, since Gurmat Elektrik is very close of acquiring all the needed financial assets to develop the geothermal project.
Intelligence Website IJ Global informs that “Gurmat Elektrik has signed the debt financing for the $970 million, 123.3MW Efeler geothermal development in Turkey, and financial close could take place within the next month.“
Earlier reports from January state that “the sponsors were prepared to commit around $220 million in equity, and were seeking $750 million in debt. Since then, Black Sea Trade and Development Bank has joined the lending club, bringing the total debt up to $850 million.”
Source: IJ Global
