Promoting Turkey’s Green Growth

November 28th, 2012 by Dermot Doorly

A view over the skyline of Istanbul, Turkey

Energy in Turkey

Turkey imports 75 per cent of its energy needs and the country’s consumption of energy is forecast to double in the next 10 years. This is why sustainable energy is a key focus of the EBRD’s activities in the country, and the Bank has invested over €1 billion in the sector.

Sustainable energy financing

A key financing instrument, worth US$ 280 million, is the EBRD’s Turkey Sustainable Energy Financing Facility (TurSEFF). The Facility on-lends to businesses and households via five local commercial partner banks.

ODE Yalitim

ODE Yalitim manufactures insulation materials for the domestic and international market. Based in the city of Çorlu in north-western Turkey, the factory is reaping the benefits of the EBRD’s sustainable energy financing.

Energy efficient equipment

ODE Yalitim received financing from the EBRD to purchase new equipment that allows the company to use less energy while maintaining production levels. Not only has the company slashed their energy costs, but fewer pollutants are being released into the atmosphere.

Energy efficient households

ODE Yalitim is also using EBRD financing to pay for insulation work to be carried out for households. For instance, this 22-year old building in Instabul had external insulation installed in 2011.

Changing people’s lives

Around 30,000 families across Turkey have reduced their energy bills by an average of 40% through this scheme. One homeowner, Aygün Kayikal, explains. “Now my flat is warmer during winter and our heating bill has decreased by about 50%. Another advantage is that the flat is much cooler during summer.”