A combined cycle power plant will be built in Turkmenistan

Turkish energy company Çalık Enerji with a financial guarantee from German bank Commerzbank and Swiss Export Credit Agency (ECA) in the amount of 586 million US dollars will build a combined cycle power plant with a capacity of 1574 MW in Turkmenbashi etrap of Balkan province of Turkmenistan under the contract signed between Çalık Enerji and TurkmenEnergo. This is reported in the online publication "Türkmenistan habarlar portaly".

The construction of the energy facility will be carried out over a period of 40 months. Under the terms of the contract, during this period the German bank will issue contract bonds on behalf of the Turkish company in favor of the State Energy Company of Turkmenistan. Approximately half of the cost of the facility will be covered by counter guarantees from Swiss Export Risk Insurance.