News

GGF sets USD 11 million credit line for Odeabank

Published

December 21, 2015

Comments

comments icon

0

Share

Published:

December 21, 2015

Comments:

comments icon

0

Share

Projects of wind and geothermal energy as well as, increasingly, in the photovoltaic sector are in the focus of a new package secured by Green for Growth Fund, Southeast Europe (GGF) for Odeabank. The Istanbul-based financial institution plans to finance mainly renewable energy with the loans worth a total USD 11 million (EUR 10.16 million).

While Turkey’s current electricity mix still relies heavily on fossil fuels (coal- and gas-fired plants account for more than two thirds of inland power generation), it holds vast resources in almost all types of renewable energy, GGF said. Projects funded by the facility are estimated to reduce primary energy consumption by up to 12 GWh and carbon dioxide emissions by 2,640 metric tons per year. Odeabank is a subsidiary of Lebanon-based Bank Audi, operating in the Middle East and North Africa. In order to further optimize Odeabank’s environmental & social expertise, GGF’s technical assistance facility will contribute to the internal training program with additional seminars.

 

Related Articles

Open call for green hydrogen combined heat and power pilot project in Western Macedonia

Open call for green hydrogen high-efficiency CHP pilot plant in northern Greece

04 July 2025 - The Greek government has opened a call for a pilot CHP unit in Western Macedonia that would run on green hydrogen

Foreign renewable energy investors remain committed to Romania as large plants coming online

Foreign renewable energy investors remain committed to Romania as large plants coming online

04 July 2025 - Renewable energy companies from abroad aren't intimidated by negative power prices in Romania, especially with the BESS segment accelerating

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.

sostanj coal fired plant unit 6

Slovenia’s sole coal-fired power plant Šoštanj to keep main unit offline until fall

04 July 2025 - The 600 MW unit at Šoštanj will not be restarted until the end of September, when demand for heat is set to rise.