The European Bank for Reconstruction and Development (EBRD) will lend US$150 million (€128 million) to Enerjisa Enerji, Türkiye’s largest electricity distribution and retail company, to support the rebuilding of the power network in the earthquake-affected Toroslar region and the development of solar power plants.
The Toroslar region, which accounts for around one-third of Enerjisa Enerji’s operations, was among the areas hardest hit by the February 2023 earthquakes that killed more than 55,000 people and caused severe damage to infrastructure.
The funding will be used to modernise and restore the electricity distribution network, which suffered significant damage, while also supporting the construction of solar facilities aimed at providing sustainable energy solutions for corporate customers. The EBRD said the initiative would help reduce distribution losses and cut carbon emissions, contributing to Türkiye’s clean energy transition.
The project is part of the EBRD’s wider €1.5 billion response package announced after the earthquakes, which includes financing for households and businesses, infrastructure investment and support for small and medium-sized enterprises.
Alongside the loan, the EBRD has launched its Board Director Nomination Toolkit for Companies in Türkiye, designed to promote diversity in company boards and strengthen long-term private sector growth. Enerjisa Enerji will work with the bank to raise awareness of the toolkit within the energy sector.
Matteo Patrone, the EBRD’s Vice President for Banking, said: “I have seen first hand that reconstruction in the Toroslar region is not a short-term task. It requires long-term commitment, clear strategic direction and the kind of trusted partnership that we have with Enerjisa Enerji. Reliable, sustainable power is fundamental to both human well-being and economic recovery.”
Enerjisa Enerji CFO Philipp Ulbrich added: “This long-term financing worth USD 150 million equivalent in Turkish lira is showing that Enerjisa Enerji is able to finance its profitable growth also within a challenging environment. Support from a globally respected institution like EBRD is not only a testament to our credibility but also reflects investor interest in the energy transition.”
The EBRD is one of Türkiye’s leading investors, having committed more than €22 billion across 495 projects and trade finance since 2009, primarily in the private sector.
