EBRD provides financing for 150MW of solar in Turkey

Facebook
Twitter
LinkedIn
Reddit
Email
The projects will be developed in the next three years. Image: Endesa.

The European Bank for Reconstruction and Development (EBRD) is providing up to US$100 million in financing to support the development of 150MW of solar in Turkey.

As part of a package jointly provided by three Turkish banks, the loan is for Adnan Polat Enerji Yatirimi (APEY), a Turkish renewables investor that has an installed power capacity of 695MW.

As well as the 150MW of solar, the funds will support APEY with the development of 53MW of wind in the next three years.

“We are delighted to work with a renowned and experienced renewable energy investor to speed up the transition to clean energy in Turkey. Turkey has an immense potential in renewable resources,” said Aida Sitdikova, EBRD director of energy Eurasia MEA.

The news comes after the 1.35GW Karapinar solar project in Turkey secured a US$291 million financing package last year from the UK government to help it proceed.

The EBRD also recently provided financing for a 230MW PV plant in Azerbaijan and a 70MW solar install in Kosovo.

4 October 2022
Solar & Storage Finance USA, the only event that connects developers to capital and capital to solar and storage projects, will be back in November 2022.
29 November 2022
PV ModuleTech EMEA in Madrid on 29-30 November 2022 will address the factors underpinning the changing PV module landscape, gathering together all the key stakeholders across the value-chain from module production to field testing. Join us for presentations from the leading players in the sector, clearly identifying the opportunities and challenges set to impact module supply to Europe and the Middle-East over the next few years.

Read Next

PV Tech Premium
September 23, 2022
Plans for a temporary revenue cap on solar PV assets across the European Union (EU) could dent investor confidence in renewables, experts have warned, amid concerns that individual member states may be able to set lower caps specific to different technologies.
September 22, 2022
Tech major Amazon has expanded its renewables portfolio globally with 71 new projects with a total capacity of 2.7GW.
September 20, 2022
From module makers and BOS producers to utility-scale developers and community solar companies, the Inflation Reduction Act (IRA) has taken centre stage at this year’s RE+ in Anaheim, California.
September 20, 2022
Private equity firm KKR and Hero Group have invested US$450 million in Indian independent power producer (IPP) Hero Future Energies (HFE) to support its renewables expansion.
September 12, 2022
The European Commission (EC) and the European Investment Bank (EIB) have agreed to provide €10 billion (US$10.1 billion) in support to regions most affected by the shift away from fossil fuels
September 7, 2022
German investment firm Aquila Capital has raised €1 billion in financing to support the development and construction of a 2.6GW renewables pipeline in Spain and Portugal over the next three years.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
September 27, 2022
15:30 AEST (UTC +10)
Solar Media Events
October 4, 2022
New York, USA
On-Demand Webinars, Solar Media Events
October 11, 2022
Virtual event
Upcoming Webinars
October 18, 2022
10am (EDT) / 4pm (CEST)