Kiyikoy WPP Extension (EBRD-50619)

Countries
  • Turkey
Where the impacts of the investment may be experienced.
Specific Location
Kiyikoy
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • European Bank for Reconstruction and Development (EBRD)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
A
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Dec 11, 2019
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Alenka Enerji Uretim Ve Yatrim AS
The holder of the loan, grant, or other investment.
Sectors
  • Energy
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 37.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 101.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Feb 28, 2020

Disclosed by Bank Oct 10, 2019


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Project Description

According to the Bank's website, this project finances: (i) the development, operation and financing of a wind power plant extension which will increase the total capacity of the existing plant; and (ii) refinancing of an outstanding leasing facility provided for the original wind farm. 

The project has been assigned an environmental and social risk rating of A because it is located within the Via Pontica bird migration flyway, a major bird migratory flyway in Turkey. The wind farm lies within the boundaries of the Istranca Mountains Key Biodiversity Area. 

Investment Description
  • European Bank for Reconstruction and Development (EBRD)
Private Actors

The Borrower is a special purpose vehicle established to develop, construct and operate the Kiyikoy Windfarm.

Borusan EnBW Enerji, the 100 percent owner of the Borrower, was founded in 2007 by the family-owned Turkish conglomerate Borusan Holding to invest in the energy sector. In 2009, a partnership agreement was signed between Borusan Holding and the publicly owned German utility EnBW AG. Currently, the operational portfolio of the Sponsor consists of 8 WPPs (446 MW), 1 HPP (50 MW) and 2 SPPs (9 MW) which in total corresponds to 505MW installed capacity.

Contact Information

Company Contact 

Cenk BULCA
info@alenkaenerji.com
+90 288 213 15 45
https://www.alenkaenerji.com.tr/
Purtelas Hasan Efendi Mah. Meclisi Mebusan Cad. No: 35/37 Salipazari/Beyoglu Istanbul/Turkiye

ACCOUNTABILITY MECHANISM OF EBRD

The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent. You can contact the PCM at pcm@ebrd.com or you can submit a complaint online using an online form, http://www.ebrd.com/eform/pcm/complaint_form?language=en. You can learn more about the PCM and how to file a complaint at http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html.