Translated version of this PSD: Turkish
The EBRD is considering providing a senior loan to Enerjisa Enerji Üretim A.Ş. (the "Company” or “Enerjisa”) for the development of a 142.5 MW wind farm located in the Balikesir province in Western Turkey, approximately 400 km southwest of Istanbul (the “Project”). Enerjisa acquired the Project through the acquisition of shares in Italgen Elektrik Üretim A.Ş. ("Italgen") which holds shares in Bares Elektrik Üretimi A.Ş. ("Bares"). Bares thus became Enerjisa’s fully owned limited liability company which will be responsible for developing the wind farm. When completed, the wind farm will become the largest in Turkey to date.
The Project’s transition impact stems from two factors:
(i) demonstration of new products through increasing the share of renewable energy in the energy mix of Turkey; and
(ii) more widespread private ownership through supporting a privately developed project in project in Turkey where the state still holds a significant share in electricity generation.
Enerjisa is a leading Turkish energy company owned 50% by each of Hacı Ömer Sabancı Holding A.S. (“Sabanci”) and Verbund International GmbH, the subsidiary of Verbund AG (“Verbund”) (jointly the “Sponsors”) and is active in generation, trading, wholesale and distribution of electricity. Sabanci is one of the top two Turkish conglomerates, while Verbund is a leading electricity company in Austria as well as Europe.
The EBRD is considering providing a senior secured loan of up to €82.5 million to Enerjisa. The remainder of the debt financing of up to €82.5 million is expected to be provided by the B-lenders. The rest of the Project cost of up to €65 million will be financed by the Sponsors’ equity and/or shareholder loans.
EUR 230 million.
Categorised A in accordance with the EBRD’s 2008 Environmental and Social Policy, requiring an Environmental and Social Impact Assessment. The Company has obtained necessary permits for the Project in accordance to National legislation.
The wind farm is not located in an environmentally sensitive location and is not associated with any know major bird migratory routes.
An environmental and social due diligence (ESDD) for the Project has been undertaken by an independent consultant, taking into account the cumulative impacts from an existing and operational wind farm in the area as well as other planned wind development projects. This has confirmed that the project is in compliance with the National, EU and Bank Performance Requirements (PRs) and environmental and social impacts are well managed and mitigated. As part of the ESDD, additional bird monitoring is begin undertaken in September and October 2011 during the spring migration period, and further monitoring will be undertaken during the construction of the Project and the subsequent operational stage.
The Company has developed a construction management plant to limit any social and environmental impacts such as soil erosion and noise. The Company will monitor noise impacts during the construction and the future operation of the wind farm.
Based on the results of the due diligence, an Environmental Management and Monitoring Plan (EMMP) has been developed and agreed with the Company. This includes monitoring and reporting obligations.
In line with the Bank’s Environmental and Social Policy, the Bank has undertaken an Environmental and Social Impact Assessment (ESIA) of the Project and information on the Project is available on the Company’s and the Bank’s web sites at the locations below.
Full ESIA documentation is available locally at:
- Enerjisa Project Site Office; Contact: Mr Halit ILGAR, Construction Site Supervisor, Enerjisa; Address: Karakaya-Eşeler Köyü, Balikesir; Mobile: +90 530 542 2198.
- Enerjisa Office Istanbul; Address: Sabancı Center Kule 2, 34330, 4. Levent / Istanbul; Tel: +90 212 385 8825; Fax: +90 212 385 8839. Contact Cigdem Saglam: email: email@example.com.
- Enerjisa web site: www.enerjisa.com.tr.
- EBRD, Regional Office Istanbul, Buyukdere Caddesi, 185, Kanyon Ofis Binasi, Kat: 2, Levent; Istanbul 34394, Turkey; Email: RO-Istanbul@ebrd.com; Tel: +90 212 386 1100; Contact Andi Aranitasi; email: AranitaA@ebrd.com.
The ESIA package and Executive Summary have also been released for public review by the project sponsor on its website www.enerjisa.com.tr.
The executive summary is available on the EBRD internet sites at www.ebrd.com/eia.
There is an Environmental and Social Impact Assessment available for this project.
Ms. Ayşegül Öcal, Finance Specialist, Enerjisa Enerji Uretim A.S.
Tel: + 90 212 385 88 61
For business opportunities or procurement, contact the client company.
EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
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Text of the PIP