News

IFC joining EBRD in investment in Akfen’s green energy

Published

May 11, 2016

Comments

comments icon

0

Share

Published:

May 11, 2016

Comments:

comments icon

0

Share

The International Finance Corporation will join the European Bank for Reconstruction and Development in supporting the renewables branch of Turkish conglomerate Akfen Holding with a combined investment of EUR 175.5 million, SeeNews reported.

The two development banks will have equal stakes in Akfen Yenilenebilir Enerji AŞ and make equal investments, according to a public filing. The two lenders have applied to the antitrust regulator for clearance on the acquisition to buy a combined stake of 33.4% in the holding’s renewable unit with EUR 89 million each.

The two lenders have applied to the antitrust board for clearance on the acquisition.

Initially, EBRD planned to acquire a 20% stake in Akfen Yenilenebilir for EUR 89 million, as announced in December. At the time, the portfolio of the renewables firm consisted of 203 MW of hydroelectric and 7 MW of solar power facilities. In addition, it had numerous wind, solar and hydropower projects in construction and under development across several regions of Turkey.

Akfen, which will continue to control the renewables business, plans to use the funds for both existing and new projects, it said in the document.

 

Related Articles

Turkish geothermal power plant operator drill for geothermal lithium

Turkish renewables firm to drill for geothermal lithium

26 July 2025 - Margün Energy intends to search for lithium in geothermal water in western Turkey, where it took over a 12 MW geothermal power plant

eu smart meters acer list slovenia croatia

Slovenia tops EU list for most smart power meters, Croatia among laggards

25 July 2025 - At the top of the list of European Union member states with the highest number of smart meters are the Scandinavian countries and Italy

serbia wind farm plandiste nis met dubravka djedovic

Government of Serbia interested in taking over Plandište wind project

25 July 2025 - Plandište is one of the projects that obtained feed-in tariffs under the first quota of 500 MW for wind power plants in Serbia

IBEX Bulgaria first guarantees of origin auction

IBEX conducts Bulgaria’s first guarantees of origin auction

25 July 2025 - A small wind power plant in northeastern Bulgaria sold 2,475 guarantees of origin of electricity via the IBEX bourse