Alto Holding secures financing for expansion of Karaburun wind farm project

Alto Holding A.S. has secured a financing package from German banks Landesbank Baden-Wurttemberg (LBBW) and KfW IPEX-Bank for US$157 million expansion plan of its Karaburun wind farm project. 

The banks will provide US$95 million tranche covered by credit insurer Euler Hermes and a mezzanine tranche worth the equivalent of US$39 million. 

The expansion plan of the project will double the capacity of the wind farm to 252 MW. The first phase of the project is developed by Enercon.