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Caspian Energy Journal Caspian European Club
Tuesday, 29 September 2015 14:00

Sustainable energy is EBRD's key priority for Turkey

Sustainable energy investment is a strategic priority for the European Bank for Reconstruction and Development in Turkey, according to the EBRD Turkey's director Jean-Patrick Marquet late September, Caspian Energy News (www.caspianenergy.net) reports with reference to Anadolu Agency.

"Almost half of the bank's total portfolio in Turkey is in sustainable energy," Marquet told Anadolu Agency in a recent interview.

According to Marquet, the country needs to meet growing demand for electricity and to diversify away from expensive imported fuel and do so while keeping carbon emissions in check.

"Since 2009 the EBRD invested €2.2 billion in 58 projects, including two of the country’s largest wind farms," he said explaining that the EBRD believes that renewable energy generation is the way forward for Turkey.

The projects consist of a 142.5 megawatt Enerjisa Bares wind power plant in Balikesir in the Marmara region of Turkey and a 135 megawatt Rotor wind farm in Osmaniye in the country's south, according to the EBRD.

"Both plants are in operation and together account for about 8 per cent of Turkey’s current wind-power-generated electricity," he said.

He added that most recently the EBRD has financed Turkey’s largest geothermal plant which has become fully operational in late August.

The Bank began its investments in Turkey in 2009 and "in 2014 Turkey became the leading recipient country of the EBRD, with new investments worth €1.4 billion. We see growing demand for our know-how and finance and this year we are planning to invest up to €1.75 billion." he said.

He concluded that the EBRD to date has invested over €6 billion in Turkey through close to 160 projects in infrastructure, energy, agribusiness, industry and finance. The Bank has also mobilized over €12 billion for these ventures from other sources of financing.

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