EBRD provides $42m loan for Türkiye’s solar power projects

The European Bank for Reconstruction and Development (EBRD) provided a €39.7-million ($42 million) loan to Kavram Enerji, a subsidiary of Fiba Renewables, to fund the construction of solar power plants in Isparta and Balikesir, Türkiye, according to the bank’s statement.

The project includes a 55 MW hybrid solar plant in Isparta and a 20 MW plant in Balikesir, which will reduce carbon emissions by approximately 37,000 tons annually.

This investment supports Türkiye’s climate goals and is part of a broader strategy to expand hybrid energy systems, which combine multiple renewable sources for greater efficiency.

Fiba Renewables aims to increase its total installed capacity from 581 MW to 737 MW by early 2025, with plans to exceed 1,000 MW by 2026. The EBRD has committed nearly €22 billion to Türkiye, focusing on private sector investments to foster sustainable development.

Attribution: Amwal Al Ghad English

Subediting: M. S. Salama