Borusan Secures $120 Million in Financing for EnBW Enerji

Borusan EnBW Enerji signed a USD 120 million financing agreement with Akbank, EBRD, Türkiye İş Bankası and TSKB. The company will use this new financing for Wind Power Plant investments with 116 MW installed capacity.

Borusan EnBW Enerji, a joint venture of Borusan Holding and EnBW, signed a total USD 120 million financing agreement with Akbank, EBRD (European Bank for Reconstruction and Development), Türkiye İş Bankası and TSKB (Industrial Development Bank of Türkiye) to contribute to Türkiye's green transition and renewable energy capacity. With the new financing it received, Borusan EnBW Enerji is accelerating renewable energy investments while advancing its sustainability targets. With this new financing, Borusan EnBW Enerji will implement Wind Power Plant (WPP) investments with 116 MW installed capacity. The company will bring the Pelit WPP to life with 80 MW installed capacity, while completing capacity expansion investments of 36 MW at Balabanlı WPP. With its installed capacity consisting entirely of renewable energy facilities, Borusan EnBW Enerji will add new investments to its direct contribution to Türkiye's and the world's sustainability with the financing received, bringing its installed capacity to 935 MW.

Conducting sustainability work under the headings of climate, people and innovation, Borusan EnBW Enerji will also undertake efforts to increase female employment in field roles in particular, with the aim of contributing to gender equality in this sector alongside renewable energy investments with the financing received. These investments will strengthen Borusan EnBW Enerji's leading position in the renewable energy sector and play an important role in Türkiye's achievement of its 2030 energy targets.

Enis Amasyalı, General Manager of Borusan EnBW Enerji, made the following assessment: "As Borusan EnBW Enerji, we continue to take an important role in our country's green transition and achievement of renewable energy targets. The USD 120 million financing we provided today for our new wind power plants with 116 MW installed capacity is a concrete demonstration of this commitment. One of our investments is the capacity expansion project of our Balabanlı WPP facility, which is located between the Çorlu and Muratlı districts of Tekirdağ and celebrated its 10th anniversary this year. Our other project is the Pelit WPP to be built in the Güren district of Sivas. This power plant, which will have 80 MW installed capacity, also has the distinction of being our first project in the Central Anatolia region. Together with these investments, we will increase our energy generation capacity and respond more effectively to our country's energy needs, while taking important steps toward a sustainable future. Our investments in renewable energy sources are critical for energy supply security, cost-effective energy supply and combating climate change. Another important aspect of our projects is inclusivity. Ensuring gender equality in our sector and supporting women's participation in the workforce are among our priority objectives."

Murat Gördeslioğlu, Deputy General Manager of Finance at Borusan EnBW Enerji, said: "With the USD 120 million financing agreement we announced today, we have reached an important milestone in our renewable energy investments as Borusan EnBW Enerji. The financing to be provided by established financial institutions such as Akbank, EBRD, Türkiye İş Bankası and TSKB is an indication of the importance of our projects in the sector. Thanks to this financing, we will significantly expand our renewable energy portfolio while bringing our new wind power plants to life. From a financial perspective, this agreement will play an important role in achieving our company's long-term growth targets and will create value for our investors."