Energy Efficiency

EBRD funds clean technology in Tüpraş, Şişecam

Published

August 5, 2016

Country

Comments

comments icon

0

Share

Published:

August 5, 2016

Country:

Comments:

comments icon

0

Share

A long-term loan agreement of EUR 42 million was signed by the European Bank for Reconstruction and Development and glass producer Türkiye Şişe ve Cam Fabrikaları AŞ (Şişecam), with the aim to finance recycling and energy efficiency.

The bank said it will also support the largest resource efficiency program in the Turkish industrial sector to date with a USD 150 million loan (EUR 133.1 million) to oil refiner Türkiye Petrol Rafinerileri AŞ (Tüpraş).

Şişecam is receiving EUR 2 million within the deal under EBRD’s Near-Zero Waste program, which finances waste minimization projects in Turkey with support from the Clean Technology Fund. The firm operates in 13 countries and is one of the largest glass producers in the world, the bank’s project summary document said. Şişecam is active in all key areas of glassmaking – flat glass, glassware, and glass packaging, as well as glass chemicals such as soda ash and chromium products. Türkiye İş Bankası AŞ (İşbank) owns a 74% controlling stake, while the remainder is free floating on the Borsa Istanbul.

Technical cooperation funds to support the operation under the Near Zero Waste Programme have been provided by the European Union’s Instrument for Pre-accession Assistance (IPA) 2013 Energy Allocation for Turkey.

EBRD’s eight-year unsecured loan to Tüpraş with a three-year grace period will finance a comprehensive EUR 205.87 million modernization program at the refineries in Izmir and Kırıkkale through 2018. Majority-owned by Koç Holding, it is the country’s biggest industrial company. It operates refineries in İzmit, Izmir, Kırıkkale and Batman.

The upgrades include a new on-site thermal power plant, a waste heat recovery system, stack gas treatment, a fluid catalytic cracking unit, and hydrocracker unit refurbishments. The improvements will lower the energy intensity of the two refineries, reduce carbon dioxide emissions by 270,000 tonnes per year (625,000 barrels of oil equivalent per year) and decrease water consumption by 120 million cubic meters.

Related Articles

croatia vireas agency north AI energy

Meet VIREAS: new AI-powered virtual assistant for energy

22 July 2025 - The VIREAS app is an interactive platform that enables users to engage with an AI assistant on various topics related to energy

Slovenia grants renewables district heating cooling

Slovenia kicks off grants program for renewables-based district heating, cooling

22 July 2025 - Slovenia is cofunding the construction or restructuring of district heating and cooling systems using renewable energy sources

GGF grows direct lending energy transition energy security

Impact Report 2024: GGF grows direct lending, committed to energy transition, energy security

11 July 2025 - In its Impact Report 2024, Green for Growth Fund outlined powering the green transition across Southeast Europe, the Caucasus and beyond

projects euros modernisation fund celan energy

EU’s Modernisation Fund disburses EUR 3.66 billion for clean energy projects in nine countries

04 July 2025 - Focusing on renewables, grids, storage, and energy efficiency, the funds will support projects in Croatia, Slovenia, Greece, and Romania.