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Within the scope of Renewable Energy Resource Areas (YEKA GES-4) signed between RAL ENERJİ A.Ş., one of the Subsidiaries of our Company, and the Ministry of Energy and Natural Resources of the Republic of Turkey on 08.08.2022, we continue our investments in line with our projections in "VİRANŞEHİR-4, VİRANŞEHİR-9 projects with a total capacity of 100 MWe/130 MWm within the borders of Viranşehir District of Şanlıurfa Province;
In order to meet the financing requirements and increase the liquidity, the first tranche of the loan allocated to our Company by Türkiye Vakıflar Bankası T.A.O. with a total limit of USD 55,000,000 (Fifty-five million American dollars), and a total maturity of 7 years, including 1 year grace period, was used on 19.03.2024 (Today) and payments were made to the suppliers.
The Solar Power Plant Investment processes are progressing as initially planned and the first electricity generation is targeted to be initiated in June 2024.
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We proclaim that our above disclosure is in conformity with the principles set down in “Material Events Communiqué” of Capital Markets Board, and it fully reflects all information coming to our knowledge on the subject matter thereof, and it is in conformity with our books, records and documents, and all reasonable efforts have been shown by our Company in order to obtain all information fully and accurately about the subject matter thereof, and we’re personally liable for the disclosures.