The European Bank for Reconstruction and Development (EBRD) announces its support for Türkiye’s Mav Elektrik Uretim Sanayi ve Ticaret with USD equivalent loan of €25 million to replace the loans that funded the construction of its Arikcayiri biomass power plant, which is fuelled by poultry waste.
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The loan will help Mav Elektrik optimize its balance sheet, ensuring it has secured long-term funding to have a sustainable financial footing.
The power plant, located in Gaziantep, is the first large-capacity plant in Türkiye to be fuelled by poultry waste, offering a significant opportunity for the country’s green transition.
By generating power, Arikcayiri prevents uncontrolled disposal of poultry waste and its misuse as a fertilizer, which can lead to soil and water contamination, as well as the spread of viral and bacterial diseases.
The plant produces bacteria-free and nutrient-rich fertilizer as a by-product of the electricity generation process.
Mav Elektrik is owned by Gulsan Holding, a current client of the EBRD. Gulsan Holding operates in various sectors, including textile, technical textile, energy, automotive, and construction.
The EBRD loan will help Gulsan Holding expand its renewable energy capacity by adding another 40 MW of wind capacity, reducing annual CO2 emissions by an estimated 36,897 tonnes.
The transaction will also improve access to childcare in the Gaziantep Organized Industrial Zone by joining the childcare policy working group established by the EBRD.
This will ensure the establishment of a multi-stakeholder partnership to provide childcare solutions for at least 200 children in the city.
This initiative is expected to alleviate care responsibilities for people in the region who were affected by the earthquakes that hit the country on 6 February, causing over 50,000 fatalities. It will allow them to return to normal life while continuing to work.
The EBRD has invested more than €17 billion in various sectors of the Turkish economy, mainly in the private sector, to date. ■