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Enerjisa Enerji signed loan agreement with EBRD for US$110-million equivalent in Turkish Lira
The European Bank for Reconstruction and Development (EBRD) provided Enerjisa Enerji, Turkey's leading electricity distribution and retail company, 20% of which is publicly traded and main shareholders are Sabancı Holding and E.ON, a new loan of 110 million USD equivalent in TL for the Company to finance its infrastructure and grid investments. Enerjisa Enerji will use the loan for digitalisation, integration of smart grid systems and renewable energy resources besides network investments and operations.
Signed by and between Enerjisa Enerji and the EBRD, the loan, which is also provided for the purposes of "Inclusive and Green” uses, will be utilised in Turkish Lira, with 7-year maturity and will be based on Turkish Lira Overnight Reference Rate (TLREF).
‘’Our collaboration with the EBRD is another milestone for sustainable energy solutions and huge investments into the Turkish energy system.’’
Dr. Michael Moser, CFO of Enerjisa Enerji A.Ş., stated, “I am very proud that together with EBRD, we have written a new chapter in Enerjisa’s green financing history. We take sustainability since years very serious and take several actions on all levels. The new sustainable energy world with renewable energy as basic energy source is only possible with huge investments into the energy infrastructure. In this respect, our newly established green financing framework with EBRD with the volume of 110 MUSD equivalent in Turkish lira for seven years is another milestone for being able to further push for sustainable energy solutions and huge investments into the Turkish energy system. I am very thankful of the trustworthy collaboration with EBRD and their profound understanding of the Turkish energy market.”
‘’We also promote modern and efficient power grid and new opportunities for young people and women with this cooperation.’’
Aida Sitdikova, EBRD Director of Energy Eurasia MEA , stated, “We are pleased to expand and strengthen our cooperation with Enerjisa Enerji. In addition to backing its investments in the modern and efficient power grid we also work together to promote greater career and training opportunities for young people and women. We applaud Enerjisa’s leadership in attracting green finance and look forward to seeing the company successfully tap into green bonds and loans market as envisaged in its newly developed green corporate finance framework,” said.
This press release is being presented solely for informational purposes. It should not be treated as giving investment advice, nor is it intended to provide the basis for any evaluation or any securities and should not be considered as a recommendation that any person should purchase, hold or dispose of any shares or other securities and it may contain forward-looking statements based on current assumptions and forecasts made by Enerjisa and Enerjisa's subsidiaries managements and other information currently available to Enerjisa and Enerjisa's subsidiaries . Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. Except to the extent required by law, Enerjisa and Enerjisa's subsidiaries do not intend, and do not assume any liability whatsoever, to update these forward-looking statements or to conform them to future events or developments.