Kuwait Finance House Bahrain (KFH-Bahrain) has executed an $85 million Commodity Murabaha financing facility for Çayırhan Enerji, backing the Turkish company’s acquisition of the Çayırhan thermal power plant near Ankara.
The plant was acquired in one of the privatization transactions in Türkiye’s energy sector, the Bahraini unit of Kuwait Finance House said in a statement on Sunday.
The Çayırhan plant supplies electricity to the Ankara region and is part of the portfolio of Akçadağ Group, a Turkish industrial and energy group, the bank said.
KFH Group drew on its Turkish arm, Kuveyt Türk, to support the transaction, according to the statement.
“We are pleased to support this acquisition, which represents one of the prominent privatization transactions in Türkiye’s energy sector,” said Mohamed Assem, deputy group chief executive for corporate banking at KFH-Bahrain.
Muhammed Taha Akçadağ, chairman of Çayırhan Enerji, said the acquisition creates employment for more than 2,500 people.
Akçadağ İnşaat Enerji Madencilik won the state tender for the plant and its coal mine field in March 2025 with a bid of 20 billion Turkish lira, NTV reported at the time.
The plant was previously owned by state power producer EÜAŞ and has an installed capacity of 620 megawatts, according to Turkish energy news site Enerji Günlüğü.
KFH-Bahrain did not disclose the tenor or pricing of the facility.
