Cakmak has advised Landesbank Baden-Wurttemberg and KfW IPEX-Bank GmbH on the financing of 132 MW Phase 2 investment in Lodos Karaburun Elektrik Uretim A.S’s wind farm in the Izmir province of Turkey.
Cakmak had advised the same lenders on the financing of the initial 120 MW Phase 1 investment in 2012. In Phase 2 the wind farm increased its capacity to 252 MW, making it one of Turkey’s largest.
The financing included a Euler-Hermes backed senior loan facility of approximately USD 95 million, and a mezzanine loan facility of EUR 35 million.
Cakmak's team was led by Partners Mesut Cakmak and Mustafa Durakoglu, working with Senior Associate Erdem Basgul and other associates from the firm’s Ankara and İstanbul offices.