The European Bank for Reconstruction and Development (EBRD) is lending US$ 150 million (€128 million) to Türkiye’s leading electricity distribution, retail sales and customer solutions company, Enerjisa Enerji, to finance the reconstruction and modernisation of the electricity network in the earthquake-hit Toroslar region, as well as the development and construction of solar power plants.
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The Toroslar region, which accounts for approximately one-third of Enerjisa Enerji’s total operations, was heavily affected by the earthquakes of February 2023, which caused widespread damage and more than 55,000 fatalities.
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The earthquakes caused significant damage to the region’s electricity distribution network, necessitating sustained investment. In the immediate aftermath of the earthquakes, the EBRD announced a comprehensive two-year response package, with support totalling €1.5 billion, including credit lines for individuals and companies affected by the earthquakes, as well as investment in infrastructure, assistance for small and medium-sized enterprises and private-sector partnerships.
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Enerjisa Enerji will use the EBRD loan to finance the rebuilding and modernisation of the electricity distribution network, contributing to the overall reconstruction efforts in the Toroslar region. The company will also install solar power plants offering sustainable energy solutions to its corporate customers.
The EBRD is one of Türkiye’s key investors, with more than €22 billion committed through 495 projects and trade finance limits since 2009, largely in the private sector. (hcn)
