Photo: maxmann from Pixabay
Turkish electricity distribution company Enerjisa Enerji has secured a USD 150 million loan to rebuild and modernize the power grid in the earthquake-hit Toroslar region in the country’s south, as well as to install solar power plants to supply corporate customers. The loan was provided by the European Bank for Reconstruction and Development (EBRD).
The Toroslar region accounts for about one-third of Enerjisa Enerji’s total operations. It was heavily affected by the earthquakes of February 2023, which caused widespread damage and more than 55,000 fatalities, the EBRD noted.
The 2023 earthquake caused heavy damage and killed more than 55,000 people
Enerjisa Enerji will use the EBRD loan to finance the reconstruction and modernization of the electricity distribution network, contributing to the overall reconstruction efforts in the region. The company will also install solar power plants offering sustainable energy solutions to its corporate customers, the bank said.
The company said in a press release that the five-year loan would be utilized to improve the quality of its electricity distribution services and expand its customer-focused renewable energy solutions.
The solar power plants will offer sustainable energy to Enerjisa’s corporate customers
Enerjisa Enerji is a subsidiary of Enerjisa Üretim, a joint venture between German E.ON and Turkey-based Sabanci.
Early this year, Enerjisa Enerji won the right to build and operate two wind farms totaling 750 MW, the largest projects available in Turkey’s auction for a total of 1.2 GW of wind.
The EBRD also stated that the project demonstrates its commitment to Turkey’s green agenda by helping to prevent distribution losses in the electricity network, as well as supporting the construction of renewable energy infrastructure, leading to significant reductions in carbon emissions.
Philipp Ulbrich, the CFO of Enerjisa Enerji, said that support from the EBRD strengthens the company’s strategic steps toward sustainable growth, reflecting investor interest in the energy transition in Turkey.
Turkey has secured over EUR 650 million in World Bank financing to support renewables integration
Earlier this month, the World Bank approved a financing package for Turkey’s transmission system upgrade project, aimed at enabling the integration of increased renewable energy capacity. The package includes a EUR 625 million loan from the International Bank for Reconstruction and Development (IBRD), a EUR 32.8 million loan from the Clean Technology Fund (CTF), and a USD 2 million CTF grant.
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