IFC joining EBRD in investment in Akfen’s green energy


May 11, 2016





May 11, 2016




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

Romania renewables statistically attributed Netherlands

Romania’s renewables can statistically be attributed to Netherlands

28 June 2022 - The EU enables countries to pay other member states to formally make up for shortfalls in achieving own green energy targets


EU faces challenges in delivering on ambitious offshore wind target

28 June 2022 - The ambitious target could prove challenging due to expected shortages of specialized offshore wind installation vessels


NASA sets out to develop nuclear power plant on the Moon

28 June 2022 - Success in building such power systems would pave the way for long-term missions on the Moon and Mars, NASA said

EU energy ministers targets renewables energy efficiency

EU energy ministers aiming at more ambitious renewables, energy efficiency targets

28 June 2022 - The Council of the EU wants to boost the renewables and energy savings targets via the Fit-for-55 package, which depends on upcoming talks