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Bilgin gets USD51m loan for Turkish wind farm
Bilgin Enerji Yatirim has secured a EUR39m (USD51.1m) loan guarantee from the German government to build a wind farm in Turkey. The guarantee will back a loan provided by Bayerische Landesbank (BayernLB) to Bilgin for the purchase of 20 wind turbines produced by German manufacturer Nordex. The Zeytineli wind farm, located in the Alacati-Cesme, in Izmir province, will have a 50MW capacity and is scheduled for completion in Q1 of next year. The loan guarantee is being arranged by Aliianz, and pay BayernLB 95% of the loan if the Turkish developer defaults over the 10-year period.
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