Turkey's Çalık Enerji has secured a guarantee package from Commerzbank and Switzerland’s export credit agency (ECA) to build a power plant in Turkmenistan.
Global Trade Review reports that Commerzbank is providing Çalık Enerji’s Swiss subsidiary with a guarantee line of $586mn.
Earlier, it was reported that Turkmenenergo State Corporation signed a contract with Çalik Enerji Sanayi ve Ticaret A.Ş. to build a 1,574 MW power plant in Turkmenbashi.
Turkmenistan sells electricity to Afghanistan, Iran, Uzbekistan and Kyrgyzstan. Ashgabat is interested in new markets in the Caucasus, Turkey and South Asia.
In Turkmenistan, electricity is generated from natural gas. According to the plan, the country's total electricity production will reach 37.5bn kilowatt-hours in 2028, up from 28.4bn in 2021.
Eziz Boyarov
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