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Galata Wind, a company investing in renewable energy, has today (25.03.2024) signed a USD 25 million green loan agreement with Societe De Promotion Et De Participation Pour La Cooperation Economique (Proparco) S.A., a private sector subsidiary of the French Development Agency (AFD), for the Taşpınar Hybrid SPP project. The sustainability terms of this new loan are expected to make a significant contribution to the company's efforts in this area. The first green loan granted by Proparco in Turkey was obtained by our company, which is committed to investing in 100% renewable energy. The loan is for the entire Taşpınar Hybrid SPP project with an installed capacity of 42.5 MW and a total investment budget of around USD 30 million. The first USD 15 million of the USD 25 million loan is expected to be drawn down shortly after signing under the project, the first phase of which of 17 MW is largely completed, and the remaining USD 10 million is expected to be drawn down at the end of the second phase of the Taşpınar Hybrid SPP project.
With the target of reaching 550 MW installed capacity in 2025 and 1,000 MW installed capacity in 2030, Galata Wind continues its efforts to utilize green financing for its investments as part of its vision for the future.
This statement has been translated into English for informational purposes. In the event of any discrepancy between the Turkish and English versions of this disclosure statement, the Turkish version shall prevail.
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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.