Turkish power-generating ships set sail to Ghana and Indonesia

ISTANBUL

Turkey’s Zorlu Energy has signed $815 million in loans with four banks to refinance the existing debts of its Zorlu Doğal Elekrik Üretim and finance its planned geothermal power plant project in Denizli, the company announced in a statement to the Public Disclosure Platform (KAP) on Oct. 27. 

“A loan deal worth $815 million, $785 million [of which is] in cash and $30 million in non-cash, with a 14-year repayment plan, was signed with Akbank, Garanti Bank, İş Bank and the Industrial Development Bank of Turkey (TSKB) on Oct. 27,” it said, adding that it would be used to refinance the existing debts of Zorlu Doğan Elektrik Üretimi A.Ş. and the planned Kızıldere 3 Geothermal Power Plant in the Aegean province of Denizli.

Zorlu Energy built the Kızıldere 2 Geothermal Power Plant with a $250 million investment and opened the plant in 2013.