Release date: 12 April 2013
Promoter – Financial Intermediary
The loan will be intermediated by three selected Turkish banks with a proven track record in energy efficiency projects. The first selected promoter is TURKIYE VAKIFLAR BANKASI (Vakifbank).
Framework loan to support energy efficiency projects accross Turkey in co-financing with the European Bank for Reconstruction and Development's (EBRD) Turkish Sustainable Energy Financing Facility (TurSEFF) initiative.
The framework loan will support small and medium-scale energy efficiency (for the largest part) and renewable energy projects. Energy efficiency projects will focus on investments in the residential, commercial and industry sectors. Renewable energy projects will include hydro, wind (both under 10 MW), solar, biomass, biogas and geothermal. Final beneficiaries will be SMEs, Mid-caps, energy service companies (ESCOs), individual households and homeowner's associations.
- Energy - Electricity, gas, steam and air conditioning supply
Proposed EIB finance (Approximate amount)
EUR 50 million
Total cost (Approximate amount)
EUR 300 million
This operation intends to bring environmental benefits by part-financing projects that contribute in particular to reducing greenhouse gas emissions and thus to mitigating climate change. Projects will have to comply with national law and EU environmental principles. Where applicable, particular attention will be paid to impacts on biodiversity and cumulative impacts in the case of renewable energy. The Intermediary's capacity to support the Bank's Public Disclosure Policy, which aims at facilitating access by the public to environmentally relevant information, will also be assessed.
The Bank will require the promoters to ensure that any procurement procedures are done in accordance with the Bank's Guide to Procurement and principles of the relevant EU directives.
Signed - 15/07/2013
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).