Published: July 13, 2009
Zorlu Energy Group (Zorlu) said that its subsidiary, Rotor Elektrik Uretim, is set to receive a loan of €130mn from multilateral lenders for building an onshore wind farm in Turkey.
Of the €130mn, the European Bank for Reconstruction and Development (EBRD) is contributing €45mn, the International Finance Corporation (IFC) is contributing €55mn, while the European Investment Bank (EIB) is lending €30mn. The EBRD and EIB contributions are backed by guarantees from HSBC and Denizbank.
The EBRD says the project will strengthen the regulatory framework for windfarms and other renewable projects in Turkey, hopefully opening the door for other projects in the future.