Tuesday, October 25, 2016

Turkey: More Financing for Renewable Energy Including Geothermal Projects

New EBRD financing for Turkish renewable energy via Isbank (The Financial)

The European Bank for Reconstruction and Development (EBRD) is providing US$ 55 million in new funds to Turkish lender Isbank to finance private companies investing in renewable energy and resource efficiency projects in Turkey.

The EBRD funds are extended through an investment in “A-” rated senior notes issued under Isbank’s Diversified Payment Rights (DPR) securitization program, an established market instrument used by Turkish banks to raise long-term funding.

The financing – supported by a €1.9 million grant from the European Union – will benefit renewable energy and resource efficiency projects in Turkey including solar, hydropower, wind, geothermal, waste-to-energy and energy efficiency as well as water saving and waste minimization projects.