Cengiz Holding Secures $64.5 Million Green Financing for Solar Power Investments

Cengiz Holding subsidiary companies Eti Bakır and Eti Aluminium are continuing to meet electricity consumption in their production processes from renewable sources through investments in two new solar power plants (SPP) with a combined installed capacity of 135 MW. The companies used a USD 64.5 million "Carbon Reduction Complete Investment Loan" to finance the projects, which have a total investment amount of USD 120 million.

Renewable Energy Share Increasing with SPP Investments
Eti Bakır, which currently operates a 52 MW capacity SPP in Mardin Mazıdağı, is near completion of its new 45 MW project in Ağrı Doğubeyazıt. Eti Aluminium is bringing its new 90 MW power plant in Gaziantep Araban into operation in addition to its existing four SPPs with a capacity of 160 MW.

Sustainability reports prepared by independent experts demonstrate the positive impacts of the projects on energy efficiency and carbon emissions, while the commitments given on carbon emission reduction and energy efficiency will be valid throughout the project lifespan. Upon completion of the investments, the renewable energy share at Eti Bakır will increase from the current 35% to 65%, while Eti Aluminium will continue to meet its growing energy needs from renewable sources.

"An Important Step on the Zero Carbon Journey"
Ahmet Cengiz, Energy Group Chairman at Cengiz Holding, noted that the investments not only meet the companies' electricity needs but also contribute to reducing carbon footprint:
"As Cengiz Holding, we value supporting our country's energy supply security with natural resources. For more than 10 years, we have focused exclusively on renewable energy investments. Because we believe that in the future world, economic development must be conducted together with the principle of sustainability. With these two new SPP investments of 135 MW, we have taken another important step in our zero carbon journey, of which we are pioneers. The green financing we provided has also validated the sustainability of our efforts."