BAKU, Azerbaijan, September 2. The European
Bank for Reconstruction and Development (EBRD) will provide a loan
of up to $207 million to the Turkish Enerjisa Enerji company for
the expansion and modernization of its electricity network.
This information was posted on the official website of the
EBRD.
According to the EBRD, the loan will be provided in the
equivalent of Turkish lira and will be directed to the expansion
and modernization of the company's Başkent electricity distribution
networks covering Ankara and surrounding cities, Ayedaş covering
the Asian part of Istanbul, as well as Toroslar located in the
central-southern part of the country.
The EBRD noted that the project is supported by the first-loss
risk guarantee under the Hi-Bar guarantee program of the European
Fund for Sustainable Development Plus (EFSD+). The program supports
sustainable investments aimed at the energy transition in the
economies of the European Neighborhood.
"The main objectives of the project include reducing losses in
the electricity network, increasing the reliability of energy
supply, reducing the duration and frequency of power outages, as
well as strengthening the company's cybersecurity capabilities. 98%
of the loan is classified as green financing," the statement said.
The bank indicated the reduction of electricity losses and related
carbon emissions among the expected results.
The project also includes providing technical assistance in the
amount of 75,000 euros to assess and strengthen the cybersecurity
capabilities of Energisa Enerji.
Energisa Enerji is one of the main private companies engaged in
the distribution and retail of electricity in Turkey, serving
approximately a quarter of the country's population.
The company is a joint venture between Sabancı Holding and the
German company E.ON. Each of the parties owns a 40% stake in the
company, while the remaining 20% of the shares are freely traded on
the Istanbul Stock Exchange.
