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EBRD provides 25 mln euros loan to support biomass and renewables in Turkey

The European Bank for Reconstruction and Development (EBRD) is providing a 25 million euros loan to Turkey’s Mav Elektrik to replace loans that funded the construction of the Arikcayiri biomass power plant, which is fuelled by poultry waste.

The proceeds of the loan will help the company optimise its balance sheet, ensuring it has a sustainable financial footing with secured long-term funding.

The transaction will also help Gulsan Holding, owner of Mav Elektrik, to expand its renewable energy capacity by another 40 megawatts (MW) of wind capacity, resulting in an estimated annual reduction of 36,897 tonnes in CO2 emissions.

Mav Elektrik’s Arikcayiri power plant is the first large-capacity plant in Turkey to be fuelled by poultry waste, representing a significant opportunity for the country’s green transition. In addition to generating power, Arikcayiri prevents any uncontrolled disposal of poultry waste and its misuse as a fertiliser, helping to prevent soil and water contamination and the spread of viral and bacterial diseases. Instead, as result of the electricity generation process, the power plant produces bacteria-free and nutrient-rich fertiliser.

The EBRD loan will also promote women’s access to employment in the field by introducing improved equal opportunity policies and practices. Gulsan Holding will aim to increase the percentage of women working across its operations.

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