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EBRD loan to fund 150 MW of solar in Turkey

Renewables developer Adnan Polat Enerji Yatırımı AŞ (Apey) is set to add 150 MW of solar capacity in the Turkish market over the next three years.

It has secured a finance package which includes up to $100 million from the European Bank for Reconstruction and Development (EBRD). The EBRD said Apey will use the funds to develop 150 MW of solar and 53 MW of wind capacity in Turkey over the next three years.

The EBRD said in a press release that Apey already has a 695 MW clean energy portfolio. The new generation capacity will produce 438 TWh of clean power per year.

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“We established a joint partnership in Apey last year to contribute to the renewable energy sector in Turkey and to the country’s economic growth,” Apey’s parent companies said in a joint statement. “Through this loan, Apey will further strengthen its position in the clean energy sector, lower carbon emissions, and play a more active role in securing sustainable energy resources for our country.”

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Source: pv magazine