EBRD to grant €400m financing for renewable energy projects in Turkey
The European Bank for Reconstruction and Development (EBRD) will announce a new €400m financing package for small-scale renewable energy and resource efficiency projects in Turkey.
The new funds, which will be announced in a Sustainable Energy Excellence Awards Ceremony on 7 December 2016 in Istanbul, will be provided under the Bank’s Turkey Sustainable Energy Financing Facility (TurSEFF), a dedicated finance facility aimed at expanding finance for private companies willing to enhance their resource efficiency.
This new round of financing marks the second time that TurSEFF has been extended in order to meet the growing demand.
The half-day conference will also celebrate the best renewable energy and energy-efficiency projects financed through the programme to date. Since the launch of TurSEFF in 2010, more than 860 projects have been financed through five local banks.
Senior representatives from the Ministry of Energy and Natural Resources and the European Union, which is supporting the programme, will be in attendance, along with representatives from Turkish lenders and private companies that have received financing under TurSEFF.
Media representatives are invited to attend the event which will start with statements for press at 14:00 at Conrad Istanbul Bosphorus, Barbaros Bulvari, 5 on 7 December 2016.
The EBRD started investing in Turkey in 2009. To date, the Bank has invested over €8bn in the country through some 200 projects in infrastructure, energy, agribusiness, industry and finance. Nearly 98% of the Bank’s investments in the country are in the private sector.
Almost half of the EBRD’s projects in Turkey promote the use of sustainable energy. Since 2009 the Bank has invested over €3bn in more than 75 such projects, including two of Turkey’s largest wind farms and its largest geothermal power plant (which is also the second largest in Europe).
The EBRD has also helped develop Turkey’s first National Renewable Energy Action Plan to attract more investments in renewable energy projects and has also supported the preparation of a National Energy Efficiency Action Plan which includes a wide range of sector-based resource efficiency measures aimed at achieving Turkey’s 2023 energy efficiency targets.
The EBRD’s strategic priorities for the period 2016-18 for its countries of operations are re-energising growth, strengthening regional integration and addressing global challenges.
Source: Company Press Release