Tufanbeyli power station

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Funding

Tufanbeyli power station is a 450-megawatt (MW) coal plant in Adana Province, Turkey.

Location

The map below shows the project site, in Tufanbeyli district, Adana province.

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Background

In 2006, Enerjisa Enerji Üretim (a partnership between Sabancı Holding and EON) acquired the rights to build a three-unit, 450-MW coal-fired power plant in the Tufanbeyli district of Adana province.[1][2] The original plan to build the plant (with Prota Engineering as the lead contractor) was delayed for three years, however, due to the onset of the economic crisis.

In 2010, the $950-million project was revived, with SK Construction & Engineering and ITOCHU Corporation assigned the construction contract.[3][4] Construction was originally expected to be completed in 2015,[5] but the plant was inaugurated in 2016.[6]

In 2016, most of EON's fossil fuel assets were split off into the new company of Uniper, however Enerjisa remained with EON.[7]

In 2018, 20% of Enerjisa Enerji was listed on the Istanbul stock market.[7][8]

Financing

In July 2012, a financing agreement for the project was closed. US$907.42 million in loans was provided by Societe Generale, UniCredit, BNP Paribas, MUFG Bank, Deutsche Bank, HSBC, Natixis, Raiffeisen Banking Group, Akbank, and Erste Bank. US$302.48 million in equity was provided by Verbund and Sabanci.[9]

Opposition

In January 2015, local residents protested against the use of foreign workers at the construction site, arguing that project developers should be using local labor.[10]

Capacity Payments

In 2018, the company was paid millions of lira by the government in support of its coal-fired plant via the capacity mechanism.[11]

Project details

  • Sponsor: Enerjisa Enerji Üretim
  • Parent company: Sabancı Holding (40%)[8], EON (40%) and 20% listed on Istanbul stock market
  • Location: Tufanbeyli district, Adana province, Turkey
  • Coordinates: 38.18562, 36.26994 (exact)
  • Status: Operating
  • Gross capacity: 450 MW (Units 1-3: 150 MW)
  • Type: Circulating fluidized bed[5]
  • In service: 2016
  • Coal type: Lignite
  • Coal source: Tufanbeyli district, Turkey
  • Source of financing: US$907.42 million in debt from Societe Generale, UniCredit, BNP Paribas, MUFG Bank, Deutsche Bank, HSBC, Natixis, Raiffeisen Banking Group, Akbank, and Erste Bank; US$302.48 million in equity from Verbund and Sabanci[9]
  • WRI ID:
  • EBC ID: TR-20

Articles and resources

References

  1. Tufanbeyli Thermal Power Plant, Prota Engineering website, accessed Mar. 2014.
  2. Tufanbeyli Termik Santrali: Proje Tanıtım Dosyası, DOKAY-ÇED Çevre Mühendisliği Ltd., Dec. 2007.
  3. Direskeneli, Haluk. Some Thoughts on Adana Tufanbeyli Thermal Power Plant, Turkish Weekly, Oct. 26, 2009.
  4. Direskeneli, Haluk. New Thermal Power Plant Investment in Adana Tufanbeyli, Turkish Weekly, Dec. 2, 2010.
  5. 5.0 5.1 ITOCHU is Awarded for [sic Coal Fired Power Plant in Tufanbeyli, Turkey], ITOCHU Corporation press release, May 17, 2011.
  6. "President Erdoğan Inaugurates Enerjisa Tufanbeyli Thermal Power Plant," Republic of Turkey, Apr 24, 2016
  7. 7.0 7.1 Company Profile, Enerjisa website, accessed May 2018
  8. 8.0 8.1 Sabanci Group In Brief, Sabanci Group website, accessed May 2018
  9. 9.0 9.1 "Preview of Tufanbeyli Thermal Power Plant Financing (450MW) | Transaction | IJGlobal". ijglobal.com. Retrieved 2020-12-16.
  10. Tufanbeyli Termik Santrali İnşaatındaki İşçilerin Çıkartılması Protesto Edildi, Haberler, 31 Jan. 2015.
  11. "KAPASİTE MEKANİZMASI OCAK AYI FATURAYA ESAS ÖDEME LİSTESİ", TEIAS website, accessed May 2018.

Related GEM.wiki articles

External resources