Kalyon Enerji signed a financing agreement with eight Turkish and international banks for $812 million for Turkey's largest solar power plant on Tuesday.
UK Export Finance, JPMorgan Chase & Co, Denizbank, Garanti BBVA, Turkiye İs Bankasi, Development and Investment Bank of Turkey, Industrial Development Bank of Turkey and VakifBank will provide the financial backing for the project with a maturity of 12 years.
The Kalyon Karapınar solar power plant project located in Konya, a Central Anatolian province, will have a total of 1,350 megawatts of capacity and will be Europe's largest solar power plant in one location after completion.
Currently, the power plant has 550 megawatts of installed capacity.
The first phase of the the plant was finalized in June.
Reporting by Nuran Erkul Kaya
Writing by Zeynep Beyza Kilic