The European Bank for Reconstruction and Development (EBRD) is providing a loan of US$ 200 million to Türkiye’s Borusan EnBW Enerji Yatirimlari ve Uretim A.S under a syndicated structure with the Netherlands Entrepreneurial Development Finance Company, FMO. The facility is part of a US$ 600 million financing package to be jointly provided by Türkiye Is Bankasi, Türkiye Sinai Kalkinma Bankasi, Garanti BBVA, Akbank, ICBC and Yapi Kredi.
The proceeds of the loan will be used to strengthen the company’s balance sheet and facilitate a corporate reorganisation that will consolidate the company’s energy portfolio, fuelling further investments into renewables.
The project is also expected to improve women’s access to renewable energy sector-relevant skills and employment opportunities, boosting the company’s inclusion credentials.
Nandita Parshad, EBRD Managing Director of Sustainable Infrastructure, welcomed the transaction, saying, “With this milestone financing package, we are very pleased to support Borusan EnBW Enerji’s ambition in the renewables sector and help accelerate Türkiye’s energy transition and support its climate commitments.”
Enis Amasyalı, General Manager of Borusan EnBW Enerji, said the company had pioneered sustainability initiatives. “With our renewable energy-based installed capacity consisting of 12 power plants and our portfolio, we contribute directly to the sustainability of Türkiye and the world, and we are one of the leading generation companies in the wind energy sector,” he said. “With the loan we have obtained, we will accelerate our investments in the renewable energy sector, as well as in our new business areas, and continue to take steps towards closing the green-collar employee gap and ensuring gender equality within the renewable energy sector.”
A player with a diversified portfolio in the renewables field, Borusan EnBW Enerji has a total installed capacity of 725 MW. Jointly owned by Türkiye’s Borusan Holding A.S. and Germany’s EnBW AG, the company has one of the largest wind portfolios in the country and has a range of new renewable projects, including wind and solar, in the pipeline.
To date, the EBRD has invested more than €17 billion in various sectors of the Turkish economy, largely in the private sector.
Discover more from SolarQuarter
Subscribe to get the latest posts sent to your email.
