Borusan EnBW Enerji Secures $120 Million Funding for Wind Projects
Deal News | Nov 07, 2024 | CEE Legal Matters
Turkish energy firm Borusan EnBW Enerji has secured a significant USD 120 million financing arrangement to fund wind power projects in Turkey. The financing will be allocated for the construction of the 80-megawatt Pelit Wind Power Plant in Sivas and to upgrade the capacity of the existing Balabanli Wind Power Plant in Tekirdag by 36.3 megawatts. The financial arrangement involves several major lenders, including Akbank, the European Bank for Reconstruction and Development, Turkiye Is Bankasi, and Turkiye Sinai Kalkinma Bankasi. Legal advisory was provided by the Turkish affiliate of White & Case, GKC Partners, with a team led by partners and associates. Despite inquiries, GKC Partners withheld further commentary on the transaction.
Sectors
- Renewable Energy
- Financial Services
- Legal Services
Geography
- Turkey – The wind power projects and financial transactions are located and transpiring within Turkey, specifically in Sivas and Tekirdag.
- Europe – The involvement of the European Bank for Reconstruction and Development brings a European dimension to the financial transaction.
Industry
- Renewable Energy – Borusan EnBW Enerji is involved in renewable energy projects, specifically wind power plants, which aligns with the growing sector of renewable energy.
- Financial Services – The involvement of banks such as Akbank, the European Bank for Reconstruction and Development, Turkiye Is Bankasi, and Turkiye Sinai Kalkinma Bankasi places this under the Financial Services industry.
- Legal Services – GKC Partners providing legal advisory services characterizes the involvement of the legal services industry in facilitating the financial transaction.
Financials
- USD 120 Million – The financing amount extended to Borusan EnBW Enerji.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Borusan EnBW Enerji | Target Company | Company | Turkish energy company focusing on renewable energy projects. |
| Akbank | Lender | Company | A major Turkish bank providing part of the financing. |
| European Bank for Reconstruction and Development | Lender | Company | An international financial institution providing funding for projects that promote economic development. |
| Turkiye Is Bankasi | Lender | Company | A prominent Turkish bank involved in the financing. |
| Turkiye Sinai Kalkinma Bankasi | Lender | Company | A Turkish industrial development bank participating in the financing. |
| GKC Partners | Legal Advisor | Company | The Turkish affiliate of White & Case, a global law firm, advising Borusan EnBW Enerji on the transaction. |