The Turkish company Çalık Enerji received a financial guarantee from the German bank Commerzbank and the Swiss Export Credit Agency (ECA) in the amount of US$586 million for the construction of a combined cycle power plant with a capacity of 1,574 MW in the city of Turkmenbashi in the Balkan region of Turkmenistan, the MIC reports.
Construction of a large energy facility will last 40 months. During this period, Commerzbank will issue contract bonds on behalf of Çalık Enerji to the beneficiary, the state-owned energy company of Turkmenistan.
On October 28, 2023, President of Turkmenistan Serdar Berdimuhamedov signed a Resolution authorizing Türkmenenergo to enter into a contract with the Turkish Çalik Enerji for the construction of a 1,574 MW power plant in Turkmenbashi. According to the document, the facility should be commissioned in May 2027.
