Skip to content

Projects

Germencik geothermal power plant

Verkís was the Technical Adviser to the European Bank for Reconstruction and Development and other potential lenders for the 123,3 MW Germencik geothermal power plant project during the project preparation and design up to financial close phase.



Project overview

Germencik is a geothermal power plant located in Aydin, Turkey and owned by Güriş Holding. Gurmat 1, a 47,4 MW dual flash plant began commercial operation in 2009 and successful implementation resulted in expansion plans shortly thereafter. Once the expansion Efeler binary and dual flash power plants will be completed in 2015/2016, the Germencik plant will reach 170 MW capacity, making it one of the ten largest geothermal plants in the world.
 
Verkís led the due-diligence and technical assistance work for the EBRB as lender, in collaboration with ISOR, Iceland Geosurvey, and Stucky in Turkey. The team provided advice regarding the technical integrity of the project and the suitability of all institutional, legal and contractual arrangements for detailed design, construction, and operation of Project facilities as well as Project Development Agreement & Transmission Agreements with the government of Turkey and Power Purchasing Agreements of the Project Company.
170mw

Installed Capacity



47,4mw

Initial Power Plant



10

Top Largest Geothermal Plants Worldwide

The Challenge

The Germencik Geothermal Power Plant expansion required significant investment to become one of the world’s largest geothermal power facilities. To secure international financing, the project needed comprehensive technical due diligence, ensuring that the engineering, resource development, contractual framework and project execution met the stringent requirements of international lenders.

Our Solution

Verkís served as Technical Adviser to the European Bank for Reconstruction and Development (EBRD) and other prospective lenders throughout the project preparation and financing phase. Working alongside ISOR and Stucky, our team led the technical due diligence, assessing the project’s engineering design, geothermal resource, construction strategy, operational readiness and contractual arrangements to support the financial close.

The Result

The successful technical review helped provide lenders with confidence in the project’s feasibility and long-term performance, supporting the financing of the expansion. Once completed, the Germencik geothermal complex reached 170 MW of installed capacity, becoming one of the world’s largest geothermal power plants and strengthening Turkey’s renewable energy portfolio.


Technical information

Location:


Aydin, Turkey


Size:


123.3 megawatts


Project period:


2014 – 2015




Services Provided



Explore Our Projects

Discover how we helped clients solve complex technical, environmental, and operational challenges through innovative engineering and strategic consulting across global energy markets.



World goals