The European Bank for Reconstruction and Development ( EBRD ) is providing a US$65 million loan to Polat Enerji to finance the development and construction of a 77-megawatt 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 30.8MW expansion to the company’s operating wind power plant portfolio, as well as a 46.6MW solar plant and a 10MWh 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.

Istanbul-based Polat Enerji is one of the pioneering investors in the country’s renewable energy sector, with 654MW of installed capacity, generating 2 gigawatt-hours of energy per annum through six power plants, predominantly wind facilities.   

Türkiye has set ambitious climate goals, including achieving net-zero emissions by 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 investors.

As part of the project, Polat Enerji is also committed to implementing improvements in governance and accountability on climate-related risks and opportunities.

Neset Ozgur Cireli, a board member of Polat Energy, says the collaboration with EBRD underscores the importance of international partnerships in driving sustainable energy initiatives.

The EBRD is among Türkiye’s largest investors, having committed almost €22 billion ( US$22.84 billion ) through 465 projects and trade finance limits since 2009, mostly in the private sector.