EBRD awards sustainable energy projects


February 10, 2016





February 10, 2016




In a ceremony in Istanbul, the European Bank for Reconstruction and Development and partners have awarded the best energy efficiency and renewable energy projects financed in Turkey through the Mid-size Sustainable Energy Financing Facility (MidSEFF). The programme, supported by the European Union and the European Investment Bank, provides funds to Turkish banks. EBRD is expanding the facility with an additional EUR 500 million.
Eleven companies were recognized for promoting energy efficiency and energy generation from renewable sources. Since MidSEFF was launched in 2011, 43 Turkish companies have received financing through seven local banks, all also awarded.
The Energy Efficiency Pioneer Award went to Konya Şeker, a sugar company, for implementing energy saving and waste-to-energy solutions at two of its plants. The first project under MidSEFF, it was financed through Akbank with a total loan amount of EUR 8.8 million. The Award for the First Biomass Plant went to Mutlular Grup. With a EUR 20.9 million loan from Denizbank and expert support provided through MidSEFF, Mutlular will be the country’s largest biomass power plant. Koçlu, the largest hydropower plant financed under MidSEFF, received the Award for the Successful Implementation and Certification of an Environment, Health and Safety Management System (ISO 14001 and OHSAS 18001). The plant was built with a EUR 43.9 million loan from Finansbank.

The Award for the Most Proactive Implementation of Environmental and Social Standards was shared by Samurlu and Karadere wind power plants for adopting the highest environmental standards. The projects were financed through Garanti Bank, having received loans of EUR 30.3 million and EUR 6.7 million, respectively. The Award for Most Advanced Carbon Credit Project was collected by Rönesans Holding for the Sena hydroelectric power plant. This project benefited from additional carbon market support provided under MidSEFF and was subsequently registered under the Verified Carbon Standard. It now has over 20,000 carbon credits available for immediate sale. The project benefited from a loan of EUR 24.7million from Garanti Bank.

The Largest CO2 Emission Reduction Project Award was given to the 56.4 MW Edincik wind power plant. The project also benefited from carbon market support under MidSEFF and is registered under the Gold Standard. Edincik received a EUR 15 million loan from Isbank. The Award for the Largest Geothermal Power Plant was taken by Pamukören, which had outstanding effective stakeholder engagement, EBRD said. It was financed with a EUR 37.4 million loan from VakıfBank. The Award for Best Stakeholder Engagement was taken by the Saray hydroelectric power plant though for close engagement with local residents in the Black Sea Region. The project was financed with a EUR 14.9 million loan from VakıfBank.

The Highest Energy Saving Project Award was received by cement producer Göltaş AŞ. The company is expected to reduce energy use by 75,000 MWh per year by producing electricity from waste-heat recovery and by installing a more efficient mill. Yapı Kredi provided a EUR 30.7 million loan. The Best Outreach Project Award was taken by Gümüşköy geothermal power plant for capturing its carbon dioxide emissions, using them in local greenhouses and selling them to industrial gas consumers. The plant was financed with a EUR 15.9 million loan from Yapı Kredi.


Related Articles

croatia geothermal energy exploration license

Croatia awards five geothermal exploration licenses

04 October 2023 - The geothermal potential of the exploration areas was identified earlier in wells created for oil and gas exploration and production

EU lacks impact assessment electricity market design reform

EU lacks impact assessment for proposed electricity market design reform

03 October 2023 - In light of the electricity market reform, the EU needs data and a mechanism to analyze current settings and the impact of proposed solutions

New rules for grid connection for solar, wind projects in Serbia

New rules for grid connection for solar, wind projects in Serbia

03 October 2023 - The Government of Serbia has finally changed the procedure for connecting new power plants to the transmission and distribution grids

Bulgaria changes Energy from Renewable Sources Act

Bulgaria adopts changes to Energy from Renewable Sources Act

03 October 2023 - Bulgaria simplified renewables permitting, rolled out banking guarantees for projects and regulated citizen energy communities