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EBRD Continues Support for Renewables in Turkey

World

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The European Bank for Reconstruction and Development said it is extending up to USD 45 million in financing to Galata Wind Enerji A.S. to boost the company's wind capacity and accelerate Turkey's transition to a clean energy future.

The new EBRD loan will finance up to 50 MW (megawatt) of planned wind power-plant extension projects in Mersin and Balikesir, further strengthening the company's operational capacity, it said in a statement.

Galata Wind, one of the leading renewable investors in Turkey, majority belong to Dogan Sirketler Grubu Holding A.S. Turkey's significant wind energy potential, estimated at 40-50 GW (gigawatt), is underutilized due to limited access to long-term financing.

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