Enerjisa Enerji Üretim A.Ş. (Enerjisa Üretim), 50% of the shares representing the capital of which are indirectly owned by our Company, has reached an agreement with financial institutions to provide a loan of up to USD 1.012 billion for the financing of 750 MW of the Renewable Energy Resource Area 2 (YEKA-2), which will be established with a total installed capacity of 1000 MW and which is targeted to be completed and commissioned gradually until the first quarter of 2026 in line with the objectives of strengthening its leading position in the Turkish renewable energy market.
The providers of the loan include renowned local and international financial institutions, U.S. International Development Finance Corporation (DFC), JP Morgan, HSBC, KfW IPEX-Bank, Deutsche Investitions - und Entwicklungsgesellschaft (German Investment Corporation), Akbank and Proparco, which provide financing for major infrastructure and energy projects globally. In addition, Euler Hermes is also involved in the financing providing export credit guarantee for a significant portion of the deal.
The loan will be used to finance Enerjisa Üretim's ongoing Armutçuk WPP, Akköy WPP, Ihlamur WPP, Ovacık WPP, Hacıhıdırlar WPP, Dampınar WPP, Harmancık WPP, Kestanederesi WPP and Uygar WPP projects in Çanakkale, Aydın and Balıkesir provinces. The repayment of the loan amounts to be received within the framework of the allocated credit limit will be completed by the end of 2034 in the form of semi-annual payments after a 1.5-year grace period.
In addition, efforts are underway to finance the remaining 250 MW of YEKA-2 projects.
With the completion of ongoing investments and the capacity increases to be commissioned, Enerjisa Üretim will reach an installed capacity of approximately 5,000 MW and a 60% renewable energy share by 2026, strengthening its leading position in private sector electricity generation in Turkey.
Further developments regarding Enerjisa Üretim's ongoing investments, capacity increases and additional financing opportunities will be shared with the public.
In case of a discrepancy between the Turkish and English versions of this public disclosure statement, Turkish version shall prevail.
