EBRD mulls equity investment in Turkish renewable energy business

The European Bank for Reconstruction and Development (EBRD) is considering an equity investment, in the form of capital increase, in Turkish renewable energy firm Ictas Yenilenebilir Enerji Uretim ve Ticaret.

The portfolio of the renewable energy firm, a unit of IC Ictas Enerji Yatirim Holding, consists of around 400 MW of operational hydropower plants and numerous renewable projects in the pipeline.

The EBRD project objective is to support the development and construction of new renewable power generation projects located across several regions of Turkey.

Ictas Yenilenebilir Enerji intends to expand by developing additional renewable energy generation assets, including wind farms, solar plants, and hydropower plants, through inorganic growth mainly, according to a project summary document on the EBRD’s website.

The target board date is July 4.