Akfen Yenilenebilir Enerji Sells Carbon Credits Worth $8.6 Million

Akfen Renewable Energy completes sale of USD 8.6 million in carbon credits to UK-based EOS Climate&Energy in single transaction. Akfen Renewable Energy, with 700 MW installed capacity producing exclusively from domestic and renewable sources – solar, hydropower and wind – continues its work on sustainable energy production and reducing environmental impacts while contributing positively to Turkey's economy. Akfen Renewable Energy achieved significant success in line with environmental sustainability and economic contribution objectives at the Üçpınar Wind Power Plant (RES) located in Çanakkale, Hasanoba RES, Kocalar RES, and the Denizli RES project in Denizli. Akfen will generate USD 8.6 million in revenue through the sale of carbon emission reduction credits for 2021-2026 from four wind power plants to UK-based EOS Climate&Energy in a single transaction. This brings Akfen Renewable Energy's total carbon credit sales to USD 11.8 million. Akfen Renewable Energy, with 700 MW installed capacity producing exclusively from domestic and renewable sources – solar, hydropower and wind – continues its work on sustainable energy production and reducing environmental impacts while also contributing positively to the economy. Akfen Renewable Energy achieved significant success in line with environmental sustainability and economic contribution objectives at the Üçpınar Wind Power Plant (RES) located in Çanakkale, Hasanoba RES, Kocalar RES, and the Denizli RES project in Denizli. The company will generate USD 8.6 million in revenue through carbon credit sales from these four energy production facilities to UK-based EOS Climate&Energy. The economic value created for Turkey through Akfen Renewable Energy's carbon credit sales to date will reach USD 11.8 million. Revenue from carbon credit sales transactions will be evaluated within the scope of ongoing activities of environmental sustainability-focused energy projects currently in operation, while also providing resources for expanding Akfen Renewable Energy's renewable energy sector operations.

Mustafa Kemal Güngör, General Manager of Akfen Renewable Energy, made the following statement on the matter:

"Our USD 8.6 million carbon credit sale is not only a financial success, but also an important contribution to Turkey's development in the renewable energy sector. This achievement demonstrates not only our company's financial strength and growth potential, but also strengthens Turkey's position on the path to becoming a global leader in renewable energy, while adding significant value to our economy." Stating that revenues from carbon credit sales will provide important support to Turkey's efforts to expand renewable energy resources, Mustafa Kemal Güngör said: "This will be an investment that supports both our economic growth and our environmental objectives. This success enables Akfen Renewable Energy to play a pioneering role in Turkey's energy sector transformation, while contributing to our national economy and environmental policies."