Renewable Energy Projects

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Renewable energy for sustainable development

Renewable energy projects are critical for the reduction of Turkey’s dependence on energy imports, and constitute one of the most important building blocks of sustainable development. In doing our part for the development of our country, we provide support for these projects. We have provided over 3 billion dollars financing to more than 75 renewable energy projects as of 2013.

“Green energy” wind power plants have a central position in the projects we support. We are proud of our contribution to these projects, which are notable not only for their minimal impact on the environment but also for the positive impact they have on the current account deficit.  As of 2013 year-end, 35% percent of all wind power plants in Turkey have been financed by us. With a 50% share among domestic banks, we are the undisputed market leader.

35 wind power plants we have financed to date will generate 3.7 billion kWh of electricity each year and prevent the consumption of 750 million m3 of natural gas. This constitutes a saving of320 million dollars every year for our country. Additionally, these plants will allow the prevention of CO2 emissions equivalent to the amount that would be eliminated by 2 million trees over their life spanevery year.

Cooperation to Support Renewable Energy

In the last 2 years, we have obtained 400 million dollars of long-term funds from EBRD, EIB and Proparco to be allocated for renewable energy projects. In addition to direct funds obtained from foreign banks, we are also facilitating access to funding with favorable conditions through guarantees we provide on behalf of investors. Particularly, we provide bank guarantees to export credit agencies for the financing of electromechanical equipment of wind power plants.

 

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