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The European Bank for Reconstruction and Development is providing $150 million to Türkiye's leading electricity distribution company Enerjisa Enerji to finance reconstruction and modernization of power networks in the earthquake-devastated Toroslar region, while supporting new solar power development.
The loan will fund rebuilding efforts in the Toroslar region, which accounts for approximately one-third of Enerjisa Enerji's total operations and was heavily affected by the February 2023 earthquakes that caused widespread damage and more than 55,000 fatalities.
The EBRD's $150 million commitment represents part of the bank's comprehensive two-year earthquake response package announced immediately after the disasters, with total support reaching €1.5 billion ($1.75B).
The broader package includes credit lines for affected individuals and companies, infrastructure investment, assistance for small and medium-sized enterprises and private-sector partnerships.
The earthquakes caused significant damage to the region's electricity distribution network, necessitating sustained investment for reconstruction efforts.
Enerjisa Enerji will use the EBRD loan to finance rebuilding and modernization of the electricity distribution network, contributing to overall reconstruction efforts in the Toroslar region.
The company will also install solar power plants offering sustainable energy solutions to corporate customers. Enerjisa Enerji will partner with the EBRD to raise awareness of the toolkit and lead by example in the energy sector.
The toolkit provides information and guidance on board nomination and appointment processes, helping companies establish effective gender-diverse boards.
Matteo Patrone, the EBRD's Vice President for Banking, emphasized the project's long-term significance.
"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," Patrone said.
"Reliable, sustainable power is fundamental to both human well-being and economic recovery," he noted.
Philipp Ulbrich, CFO of Enerjisa Enerji, highlighted the financing's strategic importance for the company's growth trajectory.
"This long-term financing worth $150 million equivalent in Turkish lira is showing that Enerjisa Enerji is able to finance its profitable growth also within a challenging environment," Ulbrich said.
"Based on our strong balance sheet, our robust cash flow generating businesses, and our disciplined cost and interest management, Enerjisa Enerji continues to secure the long-term confidence of international financial institutions," he noted.
Ulbrich noted that support from the globally respected EBRD reflects both the company's credibility and investor interest in energy transition, strengthening strategic steps toward sustainable growth through the well-established partnership.
The EBRD serves as one of Türkiye's key investors, with more than €22 billion ($25.6B) committed through 495 projects and trade finance limits since 2009, largely focused on the private sector.
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