Turkish company Alto Holding has secured financing for a $157 million expansion project which will almost double the capacity of its Karaburun wind from 132 to 252MW.
As part of the expansion Enercon’s new E-126 EP3 turbine – a further development of the manufacturer’s direct drive technology – will be installed for the first time at a wind farm of its size.
LBBW and KfW IPEX-Bank are providing finance, seven years after the Karaburun wind farm was originally constructed west of the Turkish city of Izmir.
The capital provided is made up of a tranche covered by Euler Hermes and financed equally by both banks to the tune of approximately $95 million as well as of a mezzanine tranche worth the equivalent of $39 million.
Enercon will also be in charge of operation and maintenance. Enercon also built and installed all of the turbines for the original phase of the Karaburun project.