EBRD backs renewables push by Türkiye’s Polat Enerji

This article is brought to you in association with EBRD.

• Loan to Polat Enerji to help finance first-of-a-kind battery initiative in Türkiye
• Project combines solar, wind and battery components in a single location
• Clean Technology Fund to co-finance the project with the EBRD

The European Bank for Reconstruction and Development (EBRD) is providing a USD $65 million loan to Türkiye’s Polat Enerji to finance the development and construction of a 77 megawatt (MW) hybrid solar and wind power facility in Türkiye.

Funding for the project also includes a concessional loan of up to US$ 5 million from the Clean Technology Fund, bringing the total financing package for Polat Enerji to US$ 70 million. The concessional loan will fund the battery storage component of the project.

The funding will be used to finance the development and construction of a 30.8 MW expansion to the company’s operating wind power plant portfolio, as well as a 46.6 MW solar plant and a 10.0 MWh battery storage project, both co-located with Polat Enerji’s Geycek wind power plant.

The project will be Türkiye’s inaugural battery storage initiative, combining wind power, solar energy and battery storage in a single location.

One of the early movers in the wind energy sector, Polat Enerji is one of the leading renewable investors in Türkiye, with 654 MW of installed capacity, generating 2 GWh of energy per annum through six power plants, predominantly wind facilities.   

Türkiye continues to work on its ambitious climate goals, including a net-zero target of 2053. Expanding the country’s renewable energy capacity remains one of its primary strategies. Successful deployment of new renewable energy capacity will require the support of experienced renewable investors with an advanced pipeline and battery storage solutions.

Aida Sitdikova, Head of Energy Eurasia, the Middle East and Africa in the Sustainable Infrastructure Group at the EBRD, said: “With its new, ambitious renewable energy targets, Türkiye requires visionary and innovative players to drive meaningful impact. We are proud to support Polat Enerji in setting a new milestone in the deployment of battery storage for the rapidly growing intermittent renewables sector, advancing Türkiye’s first solution integrating wind, solar and battery components. Our commitment to supporting the country’s green energy transition remains steadfast.”

As part of the project, the company will also commit to implementing improvements in governance and accountability on climate-related risks and opportunities.

In a statement, Neşet Özgür Cireli, a Board Member of Polat Energy, highlighted the company’s commitment to advancing Türkiye’s renewable energy goals through innovative solutions such as battery storage systems. By focusing continuously on renewable energy investments, he said, Polat Energy supports a sustainable future both for Türkiye and globally.

Mr Cireli also acknowledged the critical role of the EBRD in supporting Türkiye’s energy transformation. The collaboration underscores the importance of international partnerships in driving sustainable energy initiatives, he said.

The EBRD is among Türkiye’s key investors, with almost €22 billion committed through 465 projects and trade finance limits since 2009, most of it in the private sector.