EBRD Grants US$110 Million Loan to Enerjisa Uretim for Wind Power Expansion in Türkiye

EBRD Grants US$110 Million Loan to Enerjisa Uretim for Wind Power Expansion in Türkiye

(IN BRIEF) EBRD has approved a loan of US$110 million to Enerjisa Uretim in Türkiye to support the expansion of their wind power portfolio. Enerjisa Uretim’s projects will reduce CO2 emissions by 52,000 tonnes annually and promote employment opportunities for young people in the sustainable energy sector. As one of Türkiye’s largest independent power producers, Enerjisa Uretim has an installed capacity of 3.7 GW. The EBRD’s investment reflects its commitment to the Turkish economy, with over €17 billion invested to date, mainly in the private sector. This partnership aims to accelerate Türkiye’s renewable energy transition and foster sustainable economic growth.

(PRESS RELEASE) LONDON, 12-May-2023 — /EuropaWire/ — The European Bank for Reconstruction and Development (EBRD), a multilateral developmental investment bank, announces that it has approved a loan of US$110 million to Türkiye‘s Enerjisa Enerji Uretim (Enerjisa Uretim) to support the company’s ambitious expansion plans in the wind power sector.

Nandita Parshad, EBRD Managing Director of Sustainable Infrastructure, highlighted the importance of renewable energy for Turkiye’s green future: “The Bank’s engagement with Enerjisa Uretim started more than a decade ago through the financing of Bares Windfarm which was the largest wind power plant in Turkiye at the time. Since then, Enerjisa Uretim continued to innovate and expand into one of the largest power producers in the country. We are pleased to grow our on partnership further with this financing to support the company’s ambitions in renewable energy.

We must utilize Turkiye’s potential in renewable energy to decarbonize the country’s economy and provide momentum for its green ambitions. By financing this project, we will be preventing the release of over 52.000 tonnes of CO2 emissions from Turkiye’s power generation, which will be a significant step towards achieving the country’s net zero targets.”

Enerjisa Uretim CFO Mert Yaycıoğlu stated: “With to this loan from the EBRD we are one step closer to accomplishing our goals. With these projects, we focus not only on green energy generation, but also on aspects that can provide opportunities for women and youth. I would like to express my gratitude to our Enerjisa Uretim and EBRD teams for their contributions to signing the agreement for such a substantial loan.”

Enerjisa Uretim’s wind power projects will play a crucial role in reducing Türkiye’s carbon footprint by preventing the release of approximately 52,000 tonnes of CO2 emissions annually from the country’s power system. These projects also present an excellent opportunity to generate employment, particularly for young individuals, as Enerjisa Uretim is collaborating with local institutions to equip young people with market-relevant skills in the sustainable energy sector.

With an impressive installed capacity of 3.7 GW, Enerjisa Uretim stands as one of Türkiye’s largest independent power producers.

The EBRD’s support for Enerjisa Uretim’s wind power expansion aligns with its broader commitment to investing in the Turkish economy, particularly the private sector. To date, the EBRD has invested over €17 billion in various sectors across Türkiye.

This strategic partnership between the EBRD and Enerjisa Uretim will not only accelerate Türkiye’s transition to renewable energy but also contribute to sustainable economic growth and job creation in the country.

Media contact:

Tel: +44 207 338 7805
Email: press@ebrd.com

SOURCE: EBRD