- EBRD lends US$ 110 million to leading electricity distribution company Enerjisa Enerji
- Loan to enable expansion of EV charging infrastructure and electricity network modernisation
- Investment to support adoption of solar energy generation by Turkish industry
The European Bank for Reconstruction and Development (EBRD) is providing a US$ 110 million loan to Enerjisa Enerji A.S. in Türkiye to finance a comprehensive investment package that includes expanding the country’s electric vehicle (EV) charging infrastructure.
The proceeds of the loan will enable Enerjisa to modernise its electricity distribution network with efficient equipment and smart-grid applications and expand its EV charging infrastructure. The investments are part of a capital expenditure programme approved by the country’s energy regulator.
Esarj, one of Enerjisa’s subsidiaries, was one of Türkiye’s first EV charging companies and remains a key player in the field. Enerjisa, itself, is a major electricity distributor, serving a quarter of Türkiye’s population.
In addition to modernising grid applications and expanding its EV charging network, the investment will allow Enerjisa to expand its distributed energy business through its Enerjisa Customer Solutions subsidiary, which provides sustainable and innovative energy solutions.
Nandita Parshad, Managing Director of the EBRD’s Sustainable Infrastructure Group, welcomed the transaction, saying: “The EBRD is committed to a green future by fully aligning all of its activities with the goals of the Paris Agreement. A key strategy for that future is the transformation of the energy sector. We are pleased to be working with an industry leader such as Enerjisa on an investment plan to improve its distribution network and expand its EV charging infrastructure in Türkiye. These efforts will increase the company’s resilience, contribute to a greener energy sector and aid Türkiye in achieving its net-zero targets.”
The upgrade and modernisation of Enerjisa’s electricity network and the integration of distributed renewable energy capacity will lead to direct CO2 savings of 119,999 tonnes per year by cutting electricity losses and increasing renewable energy generation.
Furthermore, Enerjisa will integrate gender considerations into its climate-related corporate governance practices, in line with EBRD guidelines. It will design and implement an outreach programme to enable women to gain and improve climate-related skills with a view to equal representation in the sector.
Enerjisa Enerji CEO Murat Pınar said: “As the leading electricity distribution, retail and customer solutions company in Türkiye, we are pioneering the transformation of energy in our country. The worldwide increase in renewable energy capacity over the next five years is expected to equal the rise seen over the past 20 years, and Türkiye is expected to achieve a 65 per cent increase during that period.”
“Meanwhile, the Turkish EV pool is expected to reach at least 2 million by 2030,” Mr Pinar continued. “It is, therefore, important that we promptly carry out sustainable, efficient investments that prioritise technology. Consequently, we are boosting investment to offer solutions to our customers based on renewable resources, expand our EV charging infrastructure and upgrade our electricity distribution network with more efficient and technology, as well as smart-grid practices. We can do this thanks to the financing we are receiving from the EBRD. I sincerely thank all the stakeholders who contributed to this process.”
The EBRD is a leading institutional investor Türkiye. Since 2009, the Bank has invested more than €16.9 billion in various sectors of the country’s economy, almost all of it in the private sector.