Enerjisa Enerji secures USD 340 Million Sustainability-Linked Financing from International Financial Institutions

As Türkiye’s leading electricity distribution, retail, and customer solutions company, Enerjisa Enerji continues to invest in electricity infrastructure and grid modernization.

Enerjisa Enerji has now signed a new long-term, sustainability-linked loan agreement at USD 340 million equivalent in Turkish Lira with four international financial institutions; the International Finance Corporation (IFC), the Asian Infrastructure Investment Bank (AIIB), the Dutch Entrepreneurial Development Bank (FMO), and Finance in Motion – Green for Growth Fund (GGF), allowing to fund new investments. This agreement represents the first sustainability-linked financing in Türkiye’s electricity distribution sector.

USD 340 Million Financing for a Better Future

This six year long-term financing aims to strengthen the electrical energy infrastructure and modernize the grid across 14 provinces served by Enerjisa Enerji’s distribution companies AYEDAŞ, Başkent EDAŞ, and Toroslar EDAŞ, with a particular focus on grid investments in regions affected by the earthquake. In addition to the distribution business, the financing will also support the expansion of the charging network of Eşarj, Enerjisa’s wholly owned electric vehicle charging operator.

This financing falls within the scope of the “Sustainability-Linked Financing Framework” announced by the company in 2024. The Sustainability-Linked Targets of the financing include reducing greenhouse gas emissions by lowering the electricity theft-loss rate in Enerjisa Enerji’s distribution regions, as well as contributing to gender equality by increasing female representation in management level within the company.

PINAR: “Our partnership with international financial institutions will accelerate our country’s energy transition”

Commenting on the largest loan agreement in the company’s history, Enerjisa Enerji CEO Murat Pınar stated that the collaboration with international financial institutions reflects confidence in Türkiye’s energy transition process, “This agreement is a testament to Enerjisa Enerji’s commitment to taking responsibility in the new energy era. To us, energy is not merely a resource, but a key driver of development and social progress. Starting with the Toroslar region, we are building a more resilient, smarter, and more efficient energy system, through the infrastructure and grid modernization projects we carry out in every city we serve. We contribute to our country’s low-carbon future with our renewable energy investments and the electric vehicle charging infrastructure of Eşarj, while our long-term collaborations with international financial institutions helps accelerate Türkiye’s energy transition. Guided by our principles of transparency, trust, and sustainability, we are continuing our investments toward a better future for all with unwavering commitment.”

The agreement was signed during a ceremony attended by Enerjisa Enerji CFO Philipp Ulbrich, Treasury, Risk, Investor Relations, and Tax Director Cem Gökmen Gökkaya, and Enerjisa’s finance, legal, and sustainability professionals, while representatives from IFC, AIIB, FMO, and GGF included, respectively, Laura Vecvagare, Stefen Shin and SungMin Hwang, Jeesun Han and Pim van Dijke, Başak Egemen and other managers from various departments.

ULBRICH: “Our disciplined financial management and sustainability-focused strategy continue to earn the long-term trust of international financial institutions.”

Enerjisa Enerji CFO Philipp Ulbrich emphasized that the USD 340 million long-term financing demonstrates the company’s ability to fund sustainable growth even under challenging market conditions. “Resources we secure from international financial institutions represent far more than financing, they are due to their duration strategic levers for sustainable growth and energy transition. This agreement stands as a proof of the trust into Enerjisa Enerji’s long-term investment strategy and financial resilience. Thanks to our strong balance sheet, our robust cash flow-generating business model, and disciplined cost and interest management, our company continues to earn the long-term confidence of international financial institutions. Through the modernization of Türkiye’s energy infrastructure, we lead Türkiye’s energy.”

International financial institutions evaluated the financing of 340 million USD.

“This financing underscores AIIB’s commitment to advancing our core thematic priorities of green infrastructure and private capital mobilization,” said Najeeb Haider, Director General of AIIB’s Project and Corporate Finance Clients Department (Global). “By providing long-term local currency funding and structuring the loan around measurable climate and gender targets, we are helping accelerate Türkiye’s energy transition in a financially and socially inclusive way. In this way, the project strengthens domestic grid infrastructure, including in earthquake-affected regions, while also demonstrating how sustainability-linked instruments can align private sector participation with national and global development goals.”

“We are proud to support Enerjisa Enerji with this sustainability-linked loan, which directly contributes to FMO’s core SDG goals - advancing climate action and reducing inequalities,” said Marnix Monsfort, Director of FMO’s Energy department. “The proceeds will help modernize and expand distribution grid infrastructure, particularly in regions severely impacted by the February 2023 earthquake, ensuring resilient and inclusive energy access. We thank Enerjisa for the trust they place in FMO and look forward to continuing our partnership toward a greener and more equitable future.”

Simon Gupta, GGF Board Chairperson said “partnering with leading corporates like Enerjisa is essential to scaling the impact of green finance. These collaborations allow us to channel capital into high-impact infrastructure that accelerates the energy transition.”

Laura Vecvagare, IFC’s Regional Head of Infrastructure and Natural Resources, one of the international financial institutions providing the financing to Enerjisa Enerji, said: "Robust energy infrastructure plays a vital role in driving economic growth and creating jobs. It enables industries to function effectively and ensures access to reliable energy sources,” said Laura Vecvagare, IFC Regional Head of Infrastructure and Natural Resources. “This financing plays a critical role of providing much-needed long-term funding to modernize and expand Enerjisa’s power distribution network, bolster infrastructure damaged by the earthquakes, and support Türkiye’s renewable energy ambitions."