Daruma Corporate Finance, which is based in Istanbul, is arranging 150 million euros ($187 million) of loans for a renewable energy project in Turkey, managing director Okan Altug said.

Details of the facility which includes a 16 million euros subordinated loan will be announced at the end of this month, Altug said at a news conference in Istanbul today.

To contact the reporter on this story: Ercan Ersoy in Istanbul at eersoy@bloomberg.net

To contact the editor responsible for this story: Aydan Eksin at aeksin@bloomberg.net