TSKB Contributes to Carbon Emission Reduction with the Wind Power Investments Funded Thereby

15 June 2021
- 2 min Read

Continuing to invest in wind power, one of the most effective and clean energy sources tackling climate change TSKB contributes to Turkey's carbon emission reduction with 38 Wind Power Plants it has financed so far. Drawing attention to renewable energy investments on the Global Wind Day, the bank plans to step up its support for clean energy investments.

Mostly financing investments mainly based on wind, geothermal, solar and biogas resources in the field of renewable energy, the Industrial Development Bank of Turkey (TSKB) draws attention to the importance of clean energy on June 15 Global Wind Day. Offering financing for 330 projects with a total installed capacity of 6,594 MW in the field of renewable energy, TSKB represents 13.3 percent of Turkey's renewable energy power with these investments. With these investments, 94% of which have started production in MW, a contribution of 12.2 million tons is offered to the annual carbon emission reduction of our country. Wind power investments for which TSKB has offered USD 1.6 Billion finances up to now achieved a total installed power of 1,710 MW with 38 power plants by the end of 2020.

While the total investment amount of the power plant projects funded by TSKB between 2003 and 2020 is USD 11.3 billion, the amount of loans undertaken by TSKB for all these projects including wind power stands at USD 4.9 billion approximately.

“We examine the environmental and social impacts of clean energy investments from multiple perspectives”

Remarking that they have taken active role in minimizing the effect ofclimate change, Hasan Hepkaya, Executive Vice President of TSKB, stated: "We examine and assess every aspect of the environmental and social impacts of the clean energy investments we finance. We provide the necessary technical support in terms of taking action so as to minimize the negative impacts. Through financing wind power plants, which have quite the positive impact in terms of accessing clean energy, we incessantly work for our country's transition to low-carbon economy."