BAKU, Azerbaijan, August 19. The European Bank for Reconstruction and Development (EBRD) is providing a $150 million (128 million euros) loan to Türkiye’s leading electricity distributor Enerjisa Enerji to rebuild and modernise the electricity network in the earthquake-hit Toroslar region and to develop solar power plants, Trend reports.
The Toroslar region, which accounts for about one-third of Enerjisa Enerji’s operations, was severely damaged by the February 2023 earthquakes, which caused more than 55,000 deaths and extensive infrastructure destruction. The electricity distribution network suffered major damage, prompting sustained investment and reconstruction efforts.
Enerjisa Enerji will use the EBRD funding to restore and modernize the network, reducing power losses and supporting renewable energy infrastructure through solar plants for corporate customers. The project aligns with Türkiye’s green agenda and aims to cut carbon emissions.
The loan also coincides with the launch of the EBRD’s Board Director Nomination Toolkit for Companies in Türkiye, designed to promote diverse and effective company boards. Enerjisa Enerji will help raise awareness of the initiative in the energy sector.
Matteo Patrone, EBRD Vice President for Banking, said the reconstruction requires “long-term commitment, clear strategic direction and the kind of trusted partnership that we have with Enerjisa Enerji,” adding that reliable power is vital for both human well-being and economic recovery.
Philipp Ulbrich, Enerjisa Enerji CFO, said the financing demonstrates the company’s ability to grow profitably in a challenging environment and strengthens its strategic steps toward sustainable growth.
Since 2009, the EBRD has invested over 22 billion euros in Türkiye through 495 projects, primarily in the private sector.