The Turkish economy is considered energy intensive and its Government is focused on the promotion of sustainable energy investments, in particular the development of renewable energy resources. The emphasis is on tackling three key challenges – cutting down on CO2 emissions, achieving security of energy supply and reducing the cost of importing energy, 75 per cent of which has to be bought from abroad.
Investing in sustainable energy is a high priority for the EBRD and promoting energy efficiency across economic sectors in Turkey is a key focus in its initial phase of operation there.
TurSEFF II is a framework operation of USD 200 million under which credit lines will be provided by EBRD to eligible commercial banks in Turkey for on-lending to private sector borrowers (including SMEs and households) for energy efficiency (EE) and small-scale renewable energy (RE) investments.
Within the TurSEFF II facility, the AF Spain-led consortium will ensure that the objectives of the facility are met by checking and confirming, on a sample basis, that EE and RE Sub-projects have been completed in accordance with the relevant investment plans and are on track to achieve the planned energy savings. The team shall conduct on the spot checks on completion of all Sub-projects exceeding USD 300,000 and on a sample of up to 10% of the number of smaller Sub-projects to verify proper implementation.
For more information, please contact Sami Kangasharju: