The European Bank for Reconstruction and Development (EBRD) has
mobilized a €5 million loan from the Clean Technology Fund (CTF) for the
early stage development of the Prosin-Dikili geothermal power plant
near the coastal town of Dikili in the Izmir province of Turkey, EBRD
said on Monday.
The joint EBRD and CTF $125 million initiative
aims to provide finance and advice to private developers to help
minimize the risks in geothermal activities.
"Under the program,
the private developer Prosin Enerji, a subsidiary of Guney Yildizi
Petroleum, has received financing to expand its exploration of the
hitherto mostly unexplored Bergama-Dikili Graben and prepare the site
for drilling," the bank stated.
The company has successfully concluded surface, geological and geophysical surveys.
If
the drilling is successful, the EBRD is expected to support the
development of an initial 10 to 20 megawatts (MW) geothermal power
plant.
The country has pledged to develop 30 percent of its total
installed capacity from renewable sources by 2023. The objective is to
add 34 gigawatts (GW) of hydropower, 20 GW of wind energy, 5 GW of solar
energy, 1 GW of biomass and 1 GW of geothermal power.
As of May
2017, about 851 MW of geothermal capacity has been installed in the
country – equivalent to 19 percent of the country’s potential for
geothermal power production, currently estimated at 4.5 GW.
(Anadolu Agency)