AIIB and TSKB have signed a $65 million senior debt financing package for a 100 MW solar project in Turkey.
The YEKA Erzin 2 Hatay solar PV project is located in the Hatay province of southern Türkiye. Awarded under the Turkish government’s renewable energy resource zone (YEKA) program in June 2022, the project was developed by IC Enterra Renewable Energy, a subsidiary of Turkish conglomerate IC Holding.
The solar plant will operate under a 30-year licence and deliver electricity via a tariff indexed to inflation and foreign exchange. The two banks each contributed $32.5 million to the debt financing package.
IC Enterra operates a total 488 MW of renewable energy capacity in Türkiye, consisting of 388 MW from nine hydroelectric power plants alongside the Hatay solar project.
Turkey installed 3.1 GW of solar across the first six months of 2025, taking cumulative capacity to in excess of 23 GW.
The country’s next YEKA tenders are scheduled across November and December this year, aiming to procure 850 MW of solar and 1,150 MW of wind. Last year’s YEKA tenders, finalized in February, allocated 800 MW of solar capacity with a final price of $0.0325/kWh.
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