China Development Bank pledges to loan $600 million USD for 600 MW wind farm project in Turkey
Pledged amount
$ 704474134.755507
Adjusted pledged amount
$ 704474134.755507
Constant 2021 USD
Not recommended for aggregates
This project is not recommended for use in creating aggregated sums. See the documentation for more information about this criteria.
Summary
Funding agency [Type]
China Development Bank (CDB) [State-owned Policy Bank]
Recipient
Türkiye
Sector
Energy (Code: 230)
Flow type
Loan
Level of public liability
Private debt
Infrastructure
Yes
Category
Project lifecycle
Description
On April 10, 2012, China’s Sinovel Wind Group and Agaoglu Group, a Turkish construction company, signed an implementation agreement for the construction of a 600MW Wind Farm Project. China Development Bank will loan $600 million USD for the project. According to media reports, CDB will provide 60% of the funding for the $1 billion USD (763 million EUR) project. The specific loan details are unknown. The wind farm will generate 2 million kWh of electricity a year, according to the statement. Agaoglu has invited Sinovel to make in Turkey components such as towers, wings and generators for the machines. Agaoglu, which operates in the construction, tourism and energy sectors, has a pipeline of 1,250 MW of clean energy projects, including 750 MW of wind power capacity.
Number of official sources
1
Number of total sources
9
Details
Cofinanced
No
Direct receiving agencies [Type]
Agaoglu Group [Private Sector]
Implementing agencies [Type]
Sinovel Wind Group [Joint Venture/Special Purpose Vehicle]