Aksa Enerji Secures EUR 57 Million International Financing for Senegal Investment

Aksa Enerji has signed a new financing agreement worth EUR 57 million for its 255 MW natural gas combined cycle power plant project under construction in Senegal. The 10-year loan, structured with Germany-based Helaba Bank and guaranteed by Switzerland's official export credit insurance agency SERV, represents an important step in the company's strategy to diversify international financing sources.

Operating 15 power plants in 8 countries with installed capacity exceeding 3,500 MW, Aksa Enerji continues to pursue energy investments in Africa in line with its global growth strategy. The company is supporting its 255 MW natural gas combined cycle power plant project in Senegal—financed, constructed and operated by the company itself—through strong international partnerships.

Under the credit agreement signed with Helaba Bank, the financing provided is guaranteed by Switzerland's official export credit insurance agency SERV. The source, structured with a 10-year maturity, will be used in financing the Senegal Natural Gas Combined Cycle Power Plant investment.

Electricity generated at the plant is planned to be fed into Senegal's power grid under a tariff indexed to the euro and backed by a 25-year power purchase guarantee.

Contributing to Senegal's Energy Supply Security
Implemented with high-efficiency production technology, the project aims to meet Senegal's rising electricity demand, strengthen energy supply security and reduce dependence on imported fuel.

The investment also targets support for local employment, development of local supply chains and increased technical capacity in the country.

"Strengthening Our Access to International Finance"
Naci Ağbal, Chief Executive Officer and Chairman of the Board of Aksa Enerji, noted in his assessment of the financing agreement that partnerships developed with international financial institutions play an important role in the company's long-term growth strategy.

Ağbal stated: "The 10-year agreement we signed with Helaba Bank and structured with SERV guarantee demonstrates the technical and commercial strength of our Senegal investment as well as the confidence international financial institutions place in our project. This financing is an important step that strengthens our access to international capital markets and supports our long-term growth strategy."

Noting that through the Senegal Natural Gas Combined Cycle Power Plant they are implementing an important infrastructure investment that will contribute to the region's energy supply security, Ağbal said: "As Aksa Enerji, in line with our 'Sustainable High Growth' strategy, we continue to diversify our financing sources geographically and structurally, and to support our investments with a strong capital structure. Our investment in Senegal reflects our access to international finance, our project development capabilities and our commitment to being Africa's energy solution partner."

Aksa Enerji Expanding Investments in Africa
Aksa Enerji operates 5 power plants in Africa with total installed capacity of 725 MW. In addition to Senegal, the company continues to strengthen its presence in the region through new energy investments it plans to implement in Gabon and Burkina Faso.

With new financing support provided through collaboration with Helaba Bank and SERV, Aksa Enerji continues to advance toward its global growth targets by increasing its access to diverse financing sources for energy investments in Africa.