Major investment for Toroslar’s recovery
The European Bank for Reconstruction and Development (EBRD) has announced a $150 million (€128 million) loan to Türkiye’s leading electricity distribution and retail company, Enerjisa Enerji. The financing aims to rebuild and modernize the electricity network in the Toroslar region, which was devastated by the February 2023 earthquakes that left over 55,000 people dead and caused severe infrastructure damage.
Rebuilding the grid and boosting renewables
The Toroslar region represents nearly one-third of Enerjisa’s operations, making this investment crucial for regional recovery. The loan will be used to restore the electricity distribution network and develop solar power plants, enabling businesses and communities to access sustainable energy solutions while reducing reliance on fossil fuels.
Part of EBRD’s €1.5 billion earthquake response
This initiative is part of the EBRD’s two-year, €1.5 billion response package announced in the aftermath of the disaster. The programme includes credit lines for individuals and SMEs, infrastructure repair, and private sector partnerships to drive regional economic recovery.
Supporting Türkiye’s green transition
The project highlights the EBRD’s role in advancing Türkiye’s green agenda, reducing distribution losses and cutting carbon emissions through renewable energy development. Enerjisa’s solar investments will also support corporate customers seeking reliable clean energy.
Governance and diversity initiative
Beyond infrastructure, the transaction coincides with the launch of the Board Director Nomination Toolkit for Companies in Türkiye, designed by the EBRD to encourage gender-diverse boards and promote sustainable corporate governance. Enerjisa Enerji will collaborate with the EBRD to raise awareness and lead by example in the energy sector.
Statements from EBRD and Enerjisa Enerji
Matteo Patrone, EBRD Vice President for Banking, stressed the importance of long-term collaboration:
“Reconstruction in Toroslar is not a short-term task. It requires long-term commitment and trusted partnerships. Reliable, sustainable power is fundamental to human well-being and economic recovery.”
Philipp Ulbrich, CFO of Enerjisa Enerji, emphasized financial resilience:
“This $150 million financing demonstrates Enerjisa Enerji’s ability to secure profitable growth in a challenging environment. Our solid balance sheet and long-standing partnership with the EBRD reinforce our strategic steps toward sustainable growth.”
EBRD’s strong presence in Türkiye
Since 2009, the EBRD has invested more than €22 billion across 495 projects in Türkiye, focusing largely on the private sector and sustainable infrastructure. This latest partnership with Enerjisa Enerji underlines the bank’s commitment to supporting both reconstruction and the energy transition in the country.
