USD 80 Million Deal Between TSKB and AKSA Energy
TSKB has signed a new USD 80 million loan agreement with Aksa Renewable Energy, a 100% subsidiary of Aksa Energy. The loan will be used for bringing into action Kırşehir Alıç Storage SPP, Gaziantep Pamuk Storage SPP and Şanlıurfa Stand-Alone Electricity Storage Facility projects.
TSKB (Industrial Development Bank of Türkiye) and Aksa Renewable Energy, a 100% subsidiary of Aksa Energy, signed a new loan agreement amounting to USD 80 million. Through the loan extended by TSKB, Aksa Renewable Energy will realize its investments in storage renewable energy power plants across Türkiye. Under the agreement, TSKB will finance 3 of Aksa Renewable Energy's 14 renewable energy projects in various regions of Türkiye.
The projects to be financed by TSKB include Kırşehir Alıç Storage SPP (50 MWe), Gaziantep Pamuk Storage SPP (40.5 MWe) and a stand-alone electricity storage facility with a capacity of 50 MWe / 50 MWh in Şanlıurfa. The loan will have a total maturity of 11 years, with a grace period of 1 year.
Emphasizing that TSKB has been offering financing support to many renewable energy projects such as hydroelectric, solar, wind, biomass/biogas and geothermal power plants in Türkiye through its medium and long-term resources since 2002, TSKB CEO Murat Bilgiç said: "We are going through a period when energy and resource efficiency, especially renewable energy, has become more important than ever. We believe that renewable energy investments are of great importance, and at TSKB, we have been resolutely supporting renewable energy investments in line with Türkiye's sustainable development goals for a long while. We are happy to represent 14% of Türkiye's total renewable energy installed capacity via the 476 renewable energy projects we have financed to date. Finally, this agreement we signed with Aksa Energy marks another important step in our support for renewable energy power plants with storage in our country. In the upcoming period, we will continue to expand our support for the multifaceted development of our country through long-standing collaborations in this field."
Cemil Kazancı, Chairman and CEO of Aksa Energy, commented on the agreement: "Renewable energy with storage represents the future of energy systems thanks to its superior benefits. Each investment in this field directly contributes to our country's energy supply security, environmental responsibility and economic growth targets. As the first company in Türkiye to obtain a production license in this field, we resolutely maintain our pioneering role in energy transformation. We are pleased to establish an important collaboration with TSKB, with which Aksa Group Companies have been working in strong synergy in various projects for long years, this time in the field of renewable energy storage. This cooperation will bring to life three strategic projects that serve Türkiye's energy transformation. At Aksa Energy, we will continue to realize the most appropriate investments for our country and the world in line with our sustainable high growth target."
