NewEnergyNews: Turkey Goes After New Geothermal

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    Friday, November 04, 2016

    Turkey Goes After New Geothermal

    Turkey to expand renewable geothermal energy generation with World Bank support

    November 4, 2016 (Hurriyet Daily News)

    “…[The World Bank will provide almost $290 million for a] Geothermal Development Project in Turkey…[The project is aimed at encouraging] private sector investment in geothermal energy development in Turkey by reducing risks for investors through a risk sharing mechanism (RSM) and by providing access to long term financing…to expand geothermal capacity in the country…The project includes the establishment of a risk-sharing mechanism for resource validation to support the exploration and test drilling stages, as well as the setting up of a loan facility for resource development that will support the power plant development phase…The Development Bank of Turkey (TKB) and the Industrial Development Bank of Turkey (TSKB) will be the two financial intermediaries…Financing with a long maturity period and capacity building for the participating financial intermediaries is expected to incentivize them to take more risk at earlier development stages…” click here for more

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