Published: April 13, 2011
Electricity company raises €700mn.
Enerjisa Enerji Üretim, an electricity company in Turkey, has secured €700mn from a syndicate of investors.
The funding was co-ordinated by IFC, Unicredit and WestLB with Société Générale and TSKB the deal’s mandated lead arrangers.
BAWAG, Erste, ING and KfW IPEX-Bank were lead arrangers, while FMO, Raiffeisen and Proparco were co-arrangers.
This financing is the second phase of Enerjisa’s plans to develop 5GW of generation capacity by 2015. It raised €1bn for the initiative in 2008.
The financing will contribute towards the construction of a new natural gas-fired thermal power plant, two hydroelectric power plants and a wind power plant. These projects will generate a combined capacity of some 1GW.
IFC’s infrastructure and natural resources director, Gulrez Hoda, said that this is the organisation’s largest single syndicated loan to date and will help meet Turkey’s increasing power demands.