Turkey-based Çalık Enerji secures financing for Zatriq wind farm in Kosovo*

Çalık Enerji, part of Turkey-based Çalık Holding, obtained EUR 112 million in financing for its 73 MW Zatriq wind power project in Kosovo*.

In a consortium with fellow Turkish company Limak, Çalık Holding took over Kosovo Electricity Supply Company (KESCO) and Electricity Distribution Services in Kosovo (KEDS) in 2013. The conglomerate is expanding to electricity production with a wind farm project. Çalık Enerji closed the financing for the Zatriq facility of 73 MW in planned capacity.

The deal is worth EUR 112 million, according to the company’s legal advisor Watson Farley and Williams. It is Çalık Renewables’ first renewable energy investment outside of Turkey and the first wind project supported by Swiss Export Risk Insurance (SERV), the law firm revealed.

Çalık Enerji secured financing from Helaba bank and Deutsche Bank

Calik Enerji Swiss, Çalık Enerji’s engineering, procurement and construction (EPC) subsidiary, acted as the EPC provider, while the financing was provided to project firm EV Wind Park. The lender is Landesbank Hessen-Thüringen Girozentrale (Helaba), headquartered in Frankfurt.

Zatriq or Zatrić is a village in the municipality of Rahovec-Orahovac. The wind potential at the site is one of the highest in Kosovo*.

Çalık Enerji said it established cooperation with wind turbine manufacturer GE Vernova for the project.

The financing package led by Helaba bank is for the construction period and another 14 years, and there is also a commercial uncovered tranche, the company added. Çalık Enerji said it received equity financing as well, from Deutsche Bank, under Japan’s Nippon Export and Investment Insurance (NEXI).

Çalik and Limak participated in the first solar power auction in Kosovo*. The first wind power auction is underway.