Renewables

IFC leads Akuo’s loan project to finance 77.5 MW wind farm

Published

April 1, 2015

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Published:

April 1, 2015

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French green power producer Akuo Energy said it signed a mandate letter with International Finance Corporation (IFC) to finance the erection of the 77.5 MW Bağlar wind farm near Konya.

The mandate letter provides for IFC to lead and arrange a syndicate of other multilateral agencies or commercial banks to provide up to EUR 100 million project finance debt, the company stated on its website.

The Bağlar RES wind farm will be composed of 24 wind turbines of 3.2 MW, provided by General Electric International Inc., and offers a capacity of 77.5 MW. Construction will start in July and commissioning is expected in January 2017.

Eric Scotto, co-founder and president of Akuo Energy, stated that on top of Bağlar, the company has a backlog of 225 MW of wind projects in Turkey, with a mid-term target of 350 MW installed capacity. As of December 2014, Akuo Energy had invested USD 2 billion for a total capacity of 863 MW in operation, under construction or with financing underway, the press release said.

The company has two other wind projects in construction in the Balkan region: Krnovo in Montenegro and Ogorje in Croatia, according to information on Akuo’s website.

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