Doha – Mubasher: QInvest, Qatar's leading investment bank, said Wednesday that it provided a 5 year $30 million murabaha mezzanine finance facility for Turkey’s Crescent Capital to fund its full acquisition of Akocak HPP, an operational 81 MW hydro-electric power plant in Turkey.
QInvest, a subsidiary of Qatar Islamic Bank, has structured and invested in this transaction, which is the first of its kind, alongside Garanti Bank, Turkey’s leading energy and infrastructure financier and the sole senior lender for the dual-tranche funding package of $ 100 million.
The agreement was signed at a ceremony which was attended by Aygen Yayıkoğlu, Founder and Managing Partner of Crescent Capital, and Can Güçlü, Managing Director in the Investment Banking Division of QInvest.
The investment was made through Crescent’s Clean Energy Transition Fund (CETF), the first energy-focused private equity fund in Turkey, backed by leading international financial institutions.
