TurkPower Corp has signed a consulting and sell mandate for a wind power plant with a generating capacity of 40MW in Turkey.

Total investment for the project is aproximately $38m of which 25%-30% will be in the form of equity, and the company said it will perform consulting services and present the project to qualified investors.

Pursuant to the agreement, the company is expected to receive fees of 5% upon closing of the power project for its consulting and financing services.

TurkPower chairman Ryan Hart said that after Turkish parliament passed the new energy bill which increases feed-in tariffs from EUR5.5 per MW to EUR7.3 per MW, the expected returns for investors have increased further and debt financing has become more easily available as a result of the higher feed-in tariffs.

TurkPower is a Turkish-American consulting and service operations firm.