Announcement Regarding Signing of a Long-Term Loan Agreement Package with Odeabank A.Ş.-Turkey

BND Elektrik A.Ş., a member of Işıklar Holding A.Ş. Group of Companies has signed a loan agreement package with Odea Bank A.Ş. for an amount of USD 19,000,000 cash and TL 1,500,000 non-cash facilities with immediate availability. The purpose of the facility is to re-finance existing Project Finance loans with comperatively favourable terms/conditions. The respective secured cash loan facility will have 10 years final maturity with 1-year grace period and will be paid back in installments which will comprise a tailor-made re-payment schedule in line with the company's expected 10-year cash-flow. The non-cash facility on the other hand will be utilized to provide letters of guarantee for relevant State institutions/authorities. This facility constitutes yet another solid proof of BND Elektrik's sound financial standing as well as Turkish Banking Sector's trust and confidence in the company's future.

 

Üçgen-2 HEPP is started its operation on July 2014 following the completion of official Acceptance of Ministry of Energy and Natural Resources.

Üçgen-2 HEPP which is an investment of BND Elektrik, is started to operate on July 17, 2014 following the official acceptance Ministry of Energy and Natural Resources.

Hydro mechanical equipment's of Üçgen-2 HEPP is provided by Köessler GmbH, Electrical and I&C systems is provided by Siemens and all construction works and assembly of turbine, generator and hydro mechanical equipment's are made by Özışık Insaat ve Enerji A.Ş. on turn-key basis.

Üçgen-2 HEPP, which is built in accordance with the Production License of EÜ/1517-7/1106 issued by EMRA, with a total installed capacity of 10,319 MW and 33.815.000 kWh/year electricity production, is commissioned on July 17, 2014 following the completion of official Acceptances of DSİ, TEDAŞ and Ministry of Energy and Natural Resources.

Thus, following the completion of all legal procedures, electricity production and sales are started in Üçgen-2 HEPP.

 

Electromechanical and Hydro mechanical equipment assembly was started in “Üçgen HEPP”

Shipment has been made for the Hydro mechanical & Electromechanical equipment to the project site after completion of Factory Acceptance Tests. Installation teams have started to work under the governance of supervisors. With the completion of ongoing construction, assembly works and landscaping of facilities, commissioning date of the facility is projected to be June 2014 .

 

Electromechanical and Hydro mechanical equipment assembly was started in “Üçgen-2 HEPP”

Shipment has been made for the Hydro mechanical & Electromechanical equipment to the project site after completion of Factory Acceptance Tests. Installation teams have started to work under the governance of supervisors. With the completion of ongoing construction, assembly works and landscaping of facilities, commissioning date of the facility is projected to be May 2014 .

 

Loan Agreement was signed with Şekerbank for the financing of the HEPP projects.

The amount of 11 Million USD Loan Agreement was signed and the money was put into operation for the Projects “Üçgen HEPP” and Üçgen-2 HEPP” owned by BND Elektrik Üretim A.Ş.

 

 

 

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