A USD 380 million project finance agreement has been signed for three wind plants to be built in Çanakkale and Balıkesir.
Neris Enerji Üretim Inc. has signed a USD 380 million project finance agreement with a consortium of international and domestic banks to fund three wind power plants to be built in Çanakkale and Balıkesir. The plants, with a combined installed capacity of 450 MW, are planned to be commissioned by the end of 2027.
Project details
The plants will be equipped with 96 turbines of 4.7 MW each. New-generation turbines with rotor diameters above 160 meters will deliver high capacity factors even at low-wind sites. The project is expected to generate about 1.6 TWh a year, meeting the electricity needs of 480,000 households and avoiding 720,000 tons of carbon dioxide emissions annually.
Financing structure
The loan has a 14-year tenor and covers 70 percent of the total investment. The 30 percent equity contribution will come from Neris Enerji's internal resources and a co-investor. The loan margin is linked to environmental and social performance indicators aligned with World Bank standards.
Environment and community
A two-year bird and bat migration monitoring program was carried out at the sites, and turbine layouts and shutdown protocols were set according to its results. The project will directly employ 1,100 people during construction and 140 during operation. A community investment budget of TRY 18 million has been allocated to water storage facilities, vocational training workshops and school renovation in nearby villages.
Local manufacturing
Sixty-two percent of towers and blades will be manufactured in Türkiye; orders have been placed with the tower factory in Aliağa and the blade facility in İzmir. The local content ratio qualifies the project for the domestic-content bonus under the Renewable Energy Support Mechanism.
Management statement
Neris Enerji CEO Kaan Tanrıver said: “With this investment we take installed capacity to 1.75 GW. We will have completed more than half of our 2030 target of 2.4 GW and a 70 percent renewable share.”
The project is aligned with Türkiye's 2035 renewable energy goals, and grid connection approvals have been obtained from the relevant units of the transmission operator.
Timeline and permits
The environmental impact assessment approval and the operating license amendments for the project have been completed. Site preparation will start in the fourth quarter of this year, and turbine erection is expected to peak in the first half of 2027. The first plant is targeted to enter service in the second quarter of 2027, with the other two following at one-quarter intervals.
Electricity sales strategy
Part of the output will be offered to industrial customers through Neris Elektrik Perakende on tariffs backed by renewable guarantees of origin (YEK-G). For the remainder, the YEKDEM mechanism and bilateral agreements will be evaluated together, reducing price-risk dependence on a single channel.
