The construction of 513 MW hydroelectric power plant (located in Sinop Province in the Black Sea region of Turkey) was completed on scheduled target in 2012 and became fully operational in December 2012. Boayabt is the largest hydroelectric power plant owned by private sector. The plant has an annual power generation capacity of around 1,350 GWh. With its massive dam storage and high installed capacity, the plant is recognized as one of the few real peak hour power plants in the Turkish electricity system with no royalty payable to General Directorate of State Hydraulic Works for water usage rights.
UNIT is partner with equal shares with Doğuş and Doğan Groups in the special purpose company Boyabat Elektrik Üretim ve Ticaret A.Ş.
The total project costs are about 1.2 billion USD. The 750 million USD of total project finance was awarded the European Hydro Power Deal of the Year 2010 award by Euromoney/Project Finance Magazine (later refinanced with 540 mln USD and 360 mln USD equivalent EUR loan tranches) with better terms and conditions).
- Location : Sinop Boyabat, Turkey
- Contractor: Dogus Insaat ve Tic A.S.
- Project Type: Dam Type HPP
- Capacity: 513 MW
- Shareholder Structure: 33% UNIT, 33% Dogan, 34% Dogus
- Electricity Generation: 1.350.000 MWh/year
- Commercial Operation Date: December, 2012
- Total Invesment Cost: 1.2 Billion USD
- Financing: Garanti - Is Bankasi - Yapi Kredi – TSKB - Akbank 900 mln USD equivalent project finance loan