EBRD loan to support EV adoption in Türkiye

$110 million loan to Enerjisa to improve electricity distribution network, expand EV charging infrastructure EBRD provides $110 million to the leading electricity distribution company Loan to enable expansion of EV charging infrastructure and electricity network modernisation Investment to support adoption of solar energy generation for the Turkish industry The European Bank for Reconstruction and Development (EBRD) is providing a $110 million loan to Enerjisa Enerji A.S. (Enerjisa) in Türkiye to finance a comprehensive investment package that includes expansion of the country’s electric vehicle (EV) charging infrastructure.  The proceeds of the loan will enable Enerjisa to modernize its electricity distribution network as part of its capex investment program approved by the regulator, with efficient equipment and enhanced smart grid applications, and expand its EV charging infrastructure.  Esarj, one of Enerjisa’s subsidiaries, was one of the first companies on Türkiye’s EV journey, and remains a key player in the field. Enerjisa itself is a major electricity distributor in the country, serving a quarter of Türkiye’s population.  In addition to modernizing grid applications and expanding EV charging network, the investment will also allow Enerjisa to expand its distributed energy business through its Enerjisa Customer Solutions, which provides sustainable and innovative energy solutions to its customers.  Nandita Parshad, EBRD Managing Director for Sustainable Infrastructure Group, welcomed the transaction, saying: “EBRD is committed to a green future, as reflected in the full alignment of all our 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 a leading industry figure like Enerjisa in their investment plan to improve their distribution network and expand the EV charging infrastructure in Turkiye. These efforts will increase the resilience of the company, contribute towards a greener energy sector, and aid Turkiye in its net-zero targets.” The upgrade and modernisation of the electricity network in Enerjisa’s operation region and the integration of distributed renewable energy capacity will lead to direct CO2 savings of 119,999 tonnes per annum through electricity losses reduction and renewable energy generation.   Furthermore, Enerjisa will integrate gender considerations into its climate corporate governance practices in line with EBRD guidelines, and will design and implement an outreach programme to allow women to gain and improve climate-related skills for equal representation in the sector.  Enerjisa Energy CEO Murat Pınar :  “As the leading electricity distribution, retail and customer solutions company in Turkey, we are pioneering the transformation of energy in our country taking into account the global trends we follow. The renewable energy capacity increase worldwide in the next 5 years is expected to be equal to the increase achieved in the past 20 years, and Turkey is expected to achieve a 65% increase in this transformation in the next 5 years. On the other hand, Electric Vehicle ( EV ) pool in Turkey is anticipated to reach at least 2 million in 2030, similar to the global trend in the EV market. While leading this rapid transformation, it is of great significance to promptly carry out sustainable, efficient investments that prioritize technology.  Thus, we will increase our investments that enables us to offer solutions to our customers with renewable resources, expand the EV charging infrastructure, and upgrade our electricity distribution network with more efficient and technological equipment as well as smart grid practices thanks to the financing we are supplied via this agreement with 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 over €16.9 billion in various sectors of the country’s economy, with almost all investment in the private sector.    Kaynak: (BYZHA) - Beyaz Haber Ajansı