Turkey-based power utility Enerjisa Uretim has secured a EUR 650 million loan for renewable energy investments and reducing debt.
The loan has been provided by seven banks: Akbank, Garanti BBVA, Türkiye İş Bankası, HSBC, ING, TEB and İşbank AG.
The company has won an opportunity to install wind farms on the YEKA tender
İhsan Erbil Bayçöl, CEO of Enerjisa Uretim, said the company intends to invest funds from the loan in the construction of wind farms.
Last year the company won an opportunity to increase its total generation capacity to 4,107 MW with the capacity of 500 MW awarded in the second Renewable Energy Resources Zones (YEKA) tender, he said.
According to the local media, 56% of the company’s current installed capacity (3,600 MW) of power production is based on renewable energy sources, mostly hydropower plants.
The loan is approved under the Sustainability-linked Loan Mechanism, one of sustainable debt instruments in Turkey.