Enerjisa Üretim Completes Financing for YEKA RES-2 Projects

Enerjisa Üretim has secured $180 million in financing for three wind farms in the Muğla region whose capacity rights were awarded under Türkiye’s YEKA RES-2 tenders.

The Dutch entrepreneurial development bank FMO served as the lead arranger of the $180 million financing package and provided $100 million of the total.

The remaining $80 million was supplied by the German development finance institution DEG, formally known as Deutsche Investitions- und Entwicklungsgesellschaft mbH.

Enerjisa Üretim had previously secured $200 million from the European Bank for Reconstruction and Development for the project. With the latest package, the company has completed the financing required for the investment.

YEKA RES-2 Tenders Were Held in 2019

The YEKA RES-2 tenders were held on May 31, 2019, through a reverse-auction process for a total of 1,000 megawatts of capacity, divided into four regional allocations of 250 megawatts each.

Enercon won the 250-megawatt capacity allocation in Muğla with a bid of 4 U.S. cents per kilowatt-hour and the Balıkesir allocation with a bid of 3.53 cents per kilowatt-hour.

Enerjisa won the Aydın allocation with a bid of 4.56 cents per kilowatt-hour and the Çanakkale allocation with a bid of 3.67 cents per kilowatt-hour.

Under an agreement signed by Enercon and Enerjisa in October 2022, Enercon transferred to Enerjisa Üretim the 500 megawatts of capacity it had secured in the YEKA RES-2 tenders. Enerjisa Üretim also signed a turbine supply agreement with Enercon covering all of the projects.

Of the three wind farms included in the investment — Artuna, Gaia and Falp — the Artuna wind farm began operations last month.