Renewables Portfolio (EBRD-47631)

  • Turkey
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • European Bank for Reconstruction and Development (EBRD)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Dec 9, 2015
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Akfen Yenilenebilir Enerji Company
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
  • Construction
  • Energy
  • Hydropower
  • Infrastructure
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
Not Disclosed
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Jul 28, 2017

Disclosed by Bank Nov 6, 2015

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.
This project finances the development and construction of new renewable power generation projects and will consist of a portfolio with a total operational capacity of 210 MW, including operational hydro (203 MW), solar power plants (7 MW), and numerous wind, solar and hydro projects in construction and under development.
Investment Description
Here you can find a list of individual development financial institutions that finance the project.
The EBRD is providing an equity investment, in the form of capital increase, in return for a stake in Akfen Yenilenebilir Enerji Company, a new investment entity which will own a portfolio of renewable power generation assets both operational and under development. Akfen Yenilenebilir Enerji Company will be controlled and owned by Akfen Holding A.S. (Akfen), and will be created following the reorganisation and merger of several of Akfen's energy subsidiaries. Akfen Holding A.S. is an existing client of the EBRD, an infrastructure developer and operator currently active in energy generation, sea port operations, waste-water and water utilities management, maritime transportation and airport terminal construction and operations. Akfen Yenilenebilir Enerji Company will be a new entity to be created following the reorganisation and merger of several of Akfen's energy subsidiaries. The company will own a portfolio of renewable power generating assets with a current total installed capacity of 210 MW.

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.
Company Contact Information Kadri Samsunlu ACCOUNTABILITY MECHANISM OF EBRD The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent. You can contact the PCM at or you can submit a complaint online using an online form, You can learn more about the PCM and how to file a complaint at

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How it works