EBRD Backs Turkey’s Polinas With EUR 25 Million Capex Loan For Clean Energy Expansion

The European Bank for Reconstruction and Development (EBRD) has approved a significant investment project for Polinas Plastik Sanayi ve Ticaret AS (Polinas), a prominent flexible packaging producer based in Manisa, Türkiye. The project, identified under the number 53917, focuses on capacity expansion and modernization of Polinas’ facilities, including the integration of solar photovoltaic (PV) systems to enhance energy efficiency and sustainability.

The approved financing involves a long-term loan of up to EUR 25 million, with a repayment period extending up to seven years, including a two-year grace period. The total project cost is estimated at EUR 62 million. This loan will support Polinas in increasing its production capacity and modernizing its facilities in Manisa. Additionally, it will fund investments in renewable energy, specifically the installation of solar PV systems.

Classified as Category B under the EBRD’s Environmental and Social Policy, the project underwent thorough environmental and social due diligence. The assessments, conducted both internally and independently, confirmed the project’s compliance with the Bank’s Performance Requirements (PRs). The modernization efforts will include the adoption of advanced resource and energy efficiency measures, significantly reducing greenhouse gas (GHG) emissions through the use of renewable energy and efficient production processes. The project also includes initiatives to enhance the company’s environmental, health, and safety (EHS) management systems.

A notable aspect of this project is its emphasis on sustainability and inclusivity. Polinas aims to increase its female workforce by 40%, supported by improved diversity practices and external verification of human resource policies. The company will conduct an external audit of its HR practices to ensure alignment with best practices in diversity and inclusion.

Polinas is predominantly owned by Gözde Girisim, the private equity arm of Yildiz Holding, a major conglomerate in the food sector. The EBRD’s involvement brings additionality by offering longer tenors than the market average and providing expertise in gender standards, energy, and resource efficiency.

The EBRD has also facilitated a technical cooperation project, funded by the Austria DRIVE Programme, to assist Polinas in aligning its packaging production techniques with sustainable practices. This initiative, valued at EUR 69,491, is primarily funded by the Bank, with a small contribution from Polinas.

The Polinas Capex Loan represents a strategic investment by the EBRD to support sustainable industrial growth in Türkiye. By enhancing production capabilities, integrating renewable energy, and fostering inclusive workplace practices, Polinas is set to strengthen its market position while contributing to broader environmental and social goals.