September 19 (SeeNews) - Turkey's Isbank [BIST:ISATR] said on Thursday it has agreed to provide $96 million (71 million euro) in financing to local firm Enda Enerji Holding AS for five wind farms with total capacity of 68.6 megawatts in the western province of Izmir.
Enda Enerji will use the 12-year loan to finance the Alacati, Germiyan, Urla, Mordogan and Yaylakoy wind farm projects part of the portfolio of its units Egenda Ege Enerji Uretim AS and Yaylakoy RES Elektrik Uretim AS. The total project cost is $120 million, Isbank said in a statement.
The wind farms are expected to become operational in the first quarter of 2015 and to produce a total of 197 million kilowatt-hours of power per year.
Enda Enerji recently powered up the Eglence I and Eglence II hydro power plants with $80 million financing from Isbank, the bank's deputy chief executive Suat Ince said.
($ = 0.738 euro)