The Gülpınar Wind Power Plant, developed by Yelen Gülpınar Enerji Üretim Sanayi ve Ticaret Inc., a subsidiary of ERN Holding which has been delivering value-driven projects in construction, real estate, and energy for over half a century, has marked another major milestone in Türkiye’s renewable energy landscape.
The first phase of the Gülpınar Wind Power Plant, located in the Denizgöründü region of Çanakkale, with an installed capacity of 35 MW was commissioned in March 2020. With the addition of a second phase totaling 159 MW, the project aims to reach an overall installed capacity of 194 MW, playing a pivotal role in boosting Türkiye’s renewable energy capacity.
The total investment value of the project is 250 million euros. Of this amount, 96.5 million euros was financed through KfW IPEX-Bank under the guarantee of the German export credit agency Euler Hermes. The remaining portion was covered by equity contributions and loans provided by Türkiye’s leading financial institutions, Türkiye İş Bankası and Türkiye Development and Investment Bank.
Upon the full commissioning of all turbines in May 2024, the Gülpınar Wind Power Plant will become the fifth-largest wind energy investment in Türkiye. With an annual production of 630 million kilowatt-hours of clean energy, it will supply the electricity needs of approximately 200,000 households, equivalent to around one million people, while preventing 400,000 tons of carbon dioxide emissions annually. This will significantly contribute to reducing the country’s dependency on external energy resources.
Speaking at the Project Finance Closing Meeting, Mr. Müfit Eren, Chairman of the Board of ERN Holding and Yıldızlar Group, stated:
“We have placed sustainability at the core of our business model, as renewable energy is not only a critical investment for our nation, but also a safeguard for our future. The Gülpınar Wind Power Plant is a key project in diversifying renewable resources and increasing capacity. With the commissioning of all turbines in May 2024, the plant will reach 194 MW in installed power and rank as the fifth-largest wind energy facility in Türkiye.”
The Project Finance Closing Meeting concluded with remarks delivered by the General Managers of ERN Holding, Yıldızlar Group, KfW IPEX-Bank, Türkiye İş Bankası, and Türkiye Development and Investment Bank, followed by the official signing ceremony.
