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EBRD-backed wind farm in Turkey goes online

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Essential Energy Insights - January 2021


EBRD-backed wind farm in Turkey goes online

The 26-MW Kocalar wind farm in Turkey started operations. It was built by the renewable energy business of Akfen Holding Anonim Sirketi and financed by the European Bank for Reconstruction and Development.

The wind farm is expected to generate 60,000 MWh per year, enough to meet the electricity demand of 120,000 consumers annually, according to a news release.

Akfen Holding and the EBRD also partnered to build the 99-MW Üçpinar and 51-MW Hasanoba projects in Çanakkale province as well as the 66-MW Denizli project in southwestern Turkey. The wind projects are expected to go online between June and October.

EBRD became a shareholder in Akfen Holding in 2015 and supports the company with loans and equity. In September 2018, the bank provided the company a financing package of $102 million to build four wind projects and nine solar facilities.