EBRD Article Explores Importance of Sustainable Energy in Turkey
12 October 2012: In a new feature article, the European Bank for Reconstruction and Development (EBRD) highlights that Turkey's energy-intensive economy presents one of the greatest challenges and opportunities for sustainable energy investments in the region.
The article notes that sustainable energy is a key focus for both Turkey and EBRD. Since 2009, the Bank has invested over €500 million in Turkey in sustainable energy projects, from financing credit lines, to cleaner energy production, renewable energy, and industrial energy efficiency. One of the key financing instruments is the US$280 million EBRD Turkey Sustainable Energy Financing Facility (TurSEFF). Funded also by the European Union, the Facility supports participating banks in developing energy efficiency financing instruments. EBRD also developed the Mid-Size Sustainable Energy Financing Facility (MidSEFF), which promotes mid-size renewable energy and corporate and municipal infrastructure energy efficiency projects. This facility is also working to develop the carbon markets in Turkey and harmonise the environmental and social standards of sustainable energy projects with those applied in the European Union. [EBRD Stories]