BORUSAN ENBW ENERJI YATIRIMLARI VE
Status: Approved investmentWhy disclosure?
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Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
Borusan EnBW Enerji Yatirimlari ve Uretim A.S. (the "Company") is a renewable energy venture company who owns and operates renewable energy assets in Turkey. The overall portfolio has an existing installed capacity of >720MW. The company is 50/50 owned by the Turkish conglomerate Borusan Holding A.S. ("Borusan Holding") and the German utility EnBW AG ("EnBW").
What is our funding objective?
FMO participates in this facility as a B-lender with EBRD in the lead. The Loan will be used to replace a portion of Borusan EnBW Enerji's maturing short-term facilities and enable the Company to realize the planned additional renewable capacity in its pipeline.
Why do we fund this investment?
The funding contributes to the Company?s further expansion of renewable energy assets in the country, accelerating Turkey's sustainable energy transition.
What is the Environmental and Social categorization rationale?
We have categorized this transaction E&S B+, as these are operational companies which conduct the production of (fully renewable) electric power with relatively limited environmental and social impacts. IFC Performance Standards (PS) 1-4, 6 and 8 are triggered. An adequate environmental and social management system is in place. PS 5 is not triggered, as there is no involuntary resettlement. PS 7 is not triggered as the project is not impacting any Indigenous Peoples.
More investments
| Date | Total FMO financing |
|---|---|
| 4/25/2023 | USD 80.00 MLN |
- Website customer/investment
- https://www.borusanenbw.com.tr/
- Region
- Europe & Central Asia
- Country
- Türkiye
- Sector
- Energy
- Publication date
- 11/12/2021
- Effective date
- 1/19/2022
- Total FMO financing
- USD 40.00 MLN
- Funding
- FMO NV
-
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - B+