The European Bank for Reconstruction and Development (EBRD) will announce a new €400 million financing package for small-scale renewable energy and resource efficiency projects in Turkey at the Sustainable Energy Excellence Awards Ceremony on Wednesday Dec. 7 in Istanbul.
According to the statement made by the Bank, the new funds will be provided under the EBRD’s Turkey Sustainable Energy Financing Facility (TurSEFF) -- a dedicated finance facility aimed at expanding finance for private companies willing to enhance their resource efficiency.
This new round of financing marks the second time that TurSEFF has been extended in order to meet the growing demand, the statement reads.
Since the launch of TurSEFF in 2010, more than 860 projects have been financed through five local banks.
The Bank has invested over €3 billion in more than 75 sustainable energy projects, including two of Turkey’s largest wind farms and its largest geothermal power plant which is also the second largest in Europe since 2009.
The EBRD helped the development of Turkey’s first National Renewable Energy Action Plan to attract more investments in renewable energy projects. It also helped with the preparation of a National Energy Efficiency Action Plan which includes a wide range of sector-based resource efficiency measures aimed at achieving Turkey’s 2023 energy efficiency targets.
(Anadolu Agency)
