5 Capitals has supported ACWA Power in a technical advisory role since May 2011. The project was conceived and developed by ACWA Power to meet the growing demand for additional power in Turkey, particularly for the capital city of Ankara and the surrounding business districts. The scheme comprises an 800MW combined cycle gas-fired power plant at Kirikkale, 50km east of Ankara. However due to a shortage of available investment funds in the Turkish State transmission company (TEIAS), ACWA Power agreed to secure investment for the overhead power lines which will be repaid over the next decade. TEIAS will oversee construction and operation of the power lines and will own the asset.
5 Capitals met with the ACWA Development Team (Turkey), local engineering partner (ESER) and EBRD representatives in the summer of 2011 to establish an agreed terms of reference for the fast-track project to meet EBRDs requirements as outlined in their Environmental and Sustainability Policies. 5 Capitals additionally worked to ensure that the scope of work, baseline surveys, laboratory analyses, air modeling etc. also complied with national and other requirements including the Equator Principles, EU environmental standards, OECD Common Approach Policies and international best practices.
Whilst much of the documentation was delivered via a local consultant 5 Capitals provided significant input to, and oversight of, the environmental regulatory process. The process of Stakeholder Engagement, Public Consultation and the development of an Environmental and Social Management Plan (ESAMP) was overseen by 5 Capitals. All the technical documents (NTS, ESIA, SEP and ESAMP) were reviewed and approved by 5 Capitals prior to public disclosure on the EBRD website in October 2011
The Overhead Power Line route options could not be published until the Turkish Ministry issued a generating license in summer of 2012. Following this, 5 Capitals worked closely with ACWA Team and TEIAS to agree upon the optimum route avoiding rural towns and villages and other sensitive receptors. The fast –track ESIA was completed and approved by the Turkish Ministry and EBRD and was disclosed by the bank in January 2013.
5 Capitals has also worked closely with IFC (equity partners in the ACWA Power project) and with other lending institutions to ensure compliance with Equator Principles, World Bank/IFC standards and closeout of all environmental and social issues before Financial Close.