Due diligence of Simav and Karakova, Turkey
The European Bank for Reconstruction and Development (EBRD) is working on increasing the use of geothermal energy in Turkey by providing loans to projects in early stages. The bank requested that Mannvit’s experts perform due diligence checks of the Simav and Karakova projects, for which EBRD funding has been applied for. Mannvit’s role is to review all submitted documentation regarding the power-harnessing plans before the bank provides loans for the projects. Assessments are made as to whether the plans regarding time, costs and licences are satisfactory and whether geological data support the planned developments.
“We carried out these projects in collaboration with our German partner, Fichtner. We worked rather closely with EBRD, and it was interesting to see how preliminary assessments of geothermal areas are carried out in Turkey.”