Edincik Wind Power Plant is one of the eight MidSEFF Award winning projects, honoured for the sustainable energy promotion during the Award Ceremony in Istanbul.
The Edincik WPP, located in Marmara Region in Western Turkey, consists of 12 wind turbines with a total installed capacity of 30 MW. It can produce 95 GWh of electricity per year at the probability level of 75 per cent, including losses. Being planned as a Gold Standard GHG emission reduction project, it is currently in process of carbon certification.
To finance this project the company addressed MidSEFF for a €15 million loan, while the total investment cost was €56.4 million.
The MidSEFF team performed the analysis of various aspects of the project, in particular, its environmental and social impact to make sure the beneficiary follows the best safety practices and the local community benefits from the project.
Edincik WPP was granted the Largest CO2 Emission Reduction Project Award with its savings of 57,950 tonnes of CO2 per year. Finally, the company addressed MidSEFF for additional €5 million loan to extend the project capacity and CO2 savings even more.
This project demonstrates that investments into renewable energy are both profitable and reliable in the long-term, with the commercial banks being able to provide successive loans to such types of projects.