TurkPower Corp has signed a consulting and sell mandate with the owner of a bio-ethanol plant in the Mersin area of Turkey.
The bio-ethanol plant has a production capacity of 94,000,000 liters per year.
The company will perform consulting services and present the projects to qualified investors, and the total investment amount is approximately $150m of which $75m will be in the form of equity.
Pursuant to the agreement, the company will receive success fees of 5% upon closing of the bio-ethanol project for its consulting and financing services.
TurkPower chairman Ryan Hart said that the company’s project will produce ethanol from wood waste, resulting in higher profitability and lower agricultural price correlation and volatility.
TurkPower is a Turkish-American consulting and service operations firm.