Hurriyet Daily News - The European Bank for Reconstruction and Development (EBRD) has launched a new financing facility to support Turkey’s investments in renewable energy and energy efficiency projects to increase energy savings and decrease carbon emissions.
The new Mid-size Sustainable Energy Financing Facility (MidSEFF) will help Turkey reduce its dependence on fossil fuels by financing private investment in mid-size sustainable energy projects. With MidSEFF, the EBRD will offer a total of EUR 400 million in loans to Turkish banks for lending to private sector companies to undertake mid-size renewable energy, waste-to-energy and industrial energy efficiency investments. MidSEFF is an important component of the EBRD’s support for Turkey’s long-term energy strategy, said Varel Freeman, First Vice President of the EBRD. “The bank shares the Turkish government’s strong determination to reduce energy intensity and ensure the sustainable development of the energy sector.”