The European Bank for Reconstruction and Development (EBRD) aims to provide a long-term senior debt financing of up to $55 million to finance the construction of a 85 MW PV project owned by Akfen Yenilenebilir Enerji in Turkey. The plants will be located in the provinces of Konya, Amasya, Tokat, Van and Malatya. According to EBRD, the total cost of project is estimated to be around $181 million.
The project will be developed under the Renewables Energy Resources Support Mechanism (YEKDEM) implemented by the Turkish government offering feed-in tariffs to projects to stimulate private investment in solar generating power assets. The Turkish government targets to install about 27 GW of non-hydro renewable generation capacity by 2023; 5GW of it is expected to be PV.
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