The European Bank for Reconstruction and Development (EBRD) provides a US$110 million loan to Enerjisa Enerji A.Ş. in Turkey to finance a comprehensive investment package that includes expanding the country's electric vehicle (EV) charging infrastructure.
The proceeds from the loan will enable Enerjisa to modernize its electricity distribution network with efficient equipment and smart grid applications and expand its electric vehicle charging infrastructure. The investments are part of a capital expenditure program approved by the country's energy regulator.
Esarj, a subsidiary of Enerjisa, is one of Turkey's first electric vehicle charging companies and continues to be an important player in this field. Enerjisa is an important electricity distribution company serving a quarter of Turkey's population.
In addition to modernizing grid applications and expanding its EV charging network, the investment will enable Enerjisa to expand its distributed energy business through its Enerjisa Customer Solutions subsidiary, which provides sustainable and innovative energy solutions.
Nandita Parshad, Managing Director of the EBRD's Sustainable Infrastructure Group, welcomed the transaction, saying: “The EBRD is committed to a green future by fully aligning all its activities with the goals of the Paris Agreement. The key strategy for this future is the transformation of the energy sector. We are pleased to work with an industry leader such as Enerjisa on an investment plan to improve the distribution network and expand the electric vehicle charging infrastructure in Turkey. These efforts will increase the company's resilience, contribute to a greener energy sector and help Turkey meet its net zero targets.”
The improvement and modernization of Enerjisa's electricity grid and the integration of distributed renewable energy capacity will save 119.999 tons of direct CO2 per year by reducing electricity losses and increasing renewable energy production.
In addition, Enerjisa will integrate gender issues into climate-related corporate governance practices in line with EBRD guidelines. It will design and implement an outreach program to enable women to acquire and develop climate-related skills from a perspective of equal representation in the sector.
Enerjisa Enerji CEO Murat Pınar said, “As Turkey's leading electricity distribution, retail and customer solutions company, we lead the transformation of energy in our country. It is expected that the increase in renewable energy capacity worldwide in the next five years will equal the increase seen in the last 20 years and Turkey will achieve an increase of 65 percent in this period.”
“Meanwhile, the Turkish EV pool is expected to reach at least 2030 million by 2,” Pınar said. “Therefore, it is important that we make sustainable, efficient investments that prioritize technology as soon as possible. As a result, we are increasing our investments to offer our customers solutions based on renewable resources, expand our EV charging infrastructure and upgrade our electricity distribution network with more efficient technology and smart grid applications. We are able to do this thanks to the financing we have received from the EBRD. I sincerely thank all the stakeholders who contributed to this process.”
The EBRD is one of Turkey's leading institutional investors. Since 2009, the Bank has invested more than 16,9 billion Euros in various sectors of the country's economy, almost entirely in the private sector.
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