Banks fund $65 million for 100 MW solar project in Turkey

<p class="p1"><span class="s1">The Asian Infrastructure Investment Bank (AIIB) and Industrial Development Bank of Turkey (TSKB) have each contributed $32.5 million toward a senior debt financing package for a 100 MW solar project in southern Turkey.</span></p><p><span style="font-weight: 400;">AIIB and </span><span style="font-weight: 400;">TSKB have signed a $65 million senior debt financing package for a 100 MW solar project in <a href="https://www.pv-magazine.com/region/turkey/" rel="noopener" target="_blank">Turkey</a>.</span></p>
<p><span style="font-weight: 400;">The YEKA Erzin 2 Hatay solar PV project is located in the Hatay province of southern Türkiye. Awarded under the Turkish government’s renewable energy resource zone (</span><a href="https://www.pv-magazine.com/2021/07/14/turkey-launches-another-1-gw-pv-tender/" rel="noopener" target="_blank"><span style="font-weight: 400;">YEKA</span></a><span style="font-weight: 400;">) program in June 2022, the project was developed by IC Enterra Renewable Energy, a subsidiary of Turkish conglomerate IC Holding.</span></p>
<p><span style="font-weight: 400;">The solar plant will operate under a 30-year licence and deliver electricity via a tariff indexed to inflation and foreign exchange. </span><span style="font-weight: 400;">The two banks each contributed $32.5 million to the debt financing package.</span></p>
<p><span style="font-weight: 400;">IC Enterra operates a total 488 MW of renewable energy capacity in Türkiye, consisting of 388 MW from nine hydroelectric power plants alongside the Hatay solar project.</span></p>
<p><span style="font-weight: 400;">Turkey installed </span><a href="https://www.pv-magazine.com/2025/09/04/turkiye-deploys-3-1-gw-of-solar-in-h1/" rel="noopener" target="_blank"><span style="font-weight: 400;">3.1 GW</span></a><span style="font-weight: 400;"> of solar across the first six months of 2025, taking cumulative capacity to in excess of 23 GW.</span></p>
<p><span style="font-weight: 400;">The country’s </span><a href="https://www.pv-magazine.com/2025/09/08/turkiye-to-tender-850-mw-of-solar/https://www.pv-magazine.com/2025/09/08/turkiye-to-tender-850-mw-of-solar/" rel="noopener" target="_blank"><span style="font-weight: 400;">next YEKA tenders</span></a><span style="font-weight: 400;"> are scheduled across November and December this year, aiming to procure 850 MW of solar and 1,150 MW of wind. </span><span style="font-weight: 400;">Last year’s YEKA tenders, finalized in February, allocated </span><a href="https://www.pv-magazine.com/2025/02/05/turkey-allocates-800-mw-in-pv-tender-with-final-price-of-0-0325-kwh/" rel="noopener" target="_blank"><span style="font-weight: 400;">800 MW</span></a><span style="font-weight: 400;"> of solar capacity with a final price of $0.0325/kWh.</span></p>