Akenerji, a joint venture between Turkey's Akkok Group and Czech CEZ, informed in a filing with the Bourse Istanbul that it decided to seek a loan with a maturity up to five years from domestic lenders in order to payback a USD 75mn loan it had obtained from International Finance Corporation (IFC) in June 2010 . Akenerji aims to get the new loan under better terms than that of the IFC loan, the statement detailed. In June 2010 , Akenerji obtained a USD 75mn loan from the IFC with a grace period of four years. The loan had a maturity of four years. The facility would be used to increase the installed capacity to 3,000MW in five years, general manager of the company, Ahmet Umit Danisman had stated. Akenerji reported a net loss of TRY 59.7mn ( EUR 20mn ) for the third quarter of 2013. This was higher than the market expectations of a net loss of TRY 57mn. In the third quarter of 2012, Akenerji posted a net income of TRY 18.3mn. Revenues of the company rose to TRY 206mn in Q3 from TRY 174mn a year ago while sales costs increased to TRY 187mn from TRY 144mn. In the first nine months of the year, Akenerji posted a net loss of TRY 70.5mn versus a net income of TRY 101mn a year ago. Revenues of Akenerji fell to TRY 529mn from TRY 625mn. Total installed capacity of Akenerji stood at 647MW (259MW natural gas plants, 373MW hydropower plants, and 15MW wind power plant) as of end-September. In the first nine months of the year, Akenerji sold a total of 3.02bn kWh electricity.
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