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Overview

CNTIC pledges $184 million in commercial export credits for the construction of 150MW Cankiri Orta Bereket Thermal Power Station

Commitments (Constant USD, 2023)$188,701,785
Commitment Year•2014Country of Activity•TurkeyDirect Recipient Country of Incorporation•TurkeySector•EnergyFlow Type•Loan

Status

Project lifecycle

Pipeline: Pledge

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jan 1, 2014

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% host country ownership

Funding agencies

State-owned companies

  • China National Technical Import and Export Corporation (CNTIC)

Receiving agencies

Private Sector

  • Bereket Enerji Uretim AS

Implementing agencies

State-owned companies

  • Zhejiang Orient Engineering Co.,Ltd.

Loan desecription

CNTIC pledges $184 million in commercial export credits for the construction of 150MW Cankiri Orta Bereket Thermal Power Station

Interest type•Unknown

Narrative

Full Description

Project narrative

In April 2010, Bereket Enerji contracted the Chinese firm Zhejiang Orient Engineering to construct the 150MW Cankiri Orta Bereket Thermal Power Station at a cost of $230 million USD. Chinese Politburo member Li Changchun signed the agreement for the plant's development with Turkey's Deputy Prime Minister Ali Babacan. The plant would be fueled by a nearby lignite coal mine that the company would also develop. One source states CNTIC pledged to provide 80% of the commercial cost of the contract ($184 million USD) through commercial export credits under Export-Import Bank of China guarantee. According to information available in the source, an official provision of credits agreement was still to be signed. It was also reported that about 4-5 months were needed for the credits (with a grace period of 4 years) to be handed over before starting construction. Bereket Enerji stated that construction is planned to start in 2015 and end in 2017. However, as of December 2017 there are no reports that the power station ever began construction. As of June 2019 there is no mention of the project on the Bereket Enerji website or Turkey's Energy Market Regulatory Authority website.

Staff comments

1. The Turkish name for the project is Çalık-NTF Elektrik A.Ş.’s Çankırı-Orta Thermal Power Plant Project. 2. It is not known whether an export credit agreement was ever signed and formally committed, so the commitment year estimated box has been checked for this project. 3. No additional sources indicate the pledged financing would be guaranteed by the Export-Import Bank of China, therefore AidData has not included China Eximbank as an accountable agency.