Experience

Financing of Three Power Plant Projects in Turkey

Overseas Private Investment Corporation

Chadbourne represented the Overseas Private Investment Corporation, as co-lender with the U.S. Export-Import Bank, in connection with the approximately $2 billion financing of three build, own, operate power projects in Turkey—the largest greenfield private sector investment in Turkey to date which involved the first application of the U.S. Ex-Im's innovative pre-completion and comprehensive cover. The deal included the 770 megawatt Adapazari project, the 1,500 megawatt Gebze project and the 1,500 megawatt Izmir project, all sponsored by InterGen and Enka.

This deal was named "European Power Deal of the Year" by Project Finance magazine, as well as "Project Finance Deal of the Year" for 2000 by Global Finance magazine.