Akfen Wind Power (EBRD-49733)

  • Europe and Central Asia
Where the impacts of the investment may be experienced.
  • Turkey
Where the impacts of the investment may be experienced.
Specific Location
Canakkale, Denizli
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
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
Bank Risk Rating
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Jun 20, 2018
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Akfen Yenilenebilir Enerji A.S.
The holder of the loan, grant, or other investment.
  • Construction
  • Energy
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 65.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 370.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Jan 28, 2019

Disclosed by Bank May 8, 2018

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Project Description

This project provides long-term financing to Akfen Yenilenebilir Enerji A.S. for funding the construction of 3 wind farms in the province of Canakkale, and 1 wind farm in the province of Denizli, totaling 242MW.

Investment Description
Private Actors Description

The Borrowers will be four special purpose vehicles incorporated in Turkey for the sole purpose of developing, constructing and operating the wind farms. The borrowers are ultimately owned and controlled by Akfen Yenilenebilir Enerji A.S. Akfen Yenilenebilir Enerji is owned by Akfen Holding A.S., Turkey (73.4%), EBRD (13.3%) and IFC (13.3%).

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Akfen Holding Anonim Sirketi Parent Company -
- - - - Akfen Yenilenebilir Enerji A.S. Client -

Contact Information

Ozgur Uzunoglu
+90 (212) 319 8700 
+90 (212) 319 8730
Ilkbahar Mahallesi Turan Gunes Bulvari Galip Erdem Cad. No: 3 06550 Cankaya Ankara

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 pcm@ebrd.com or you can submit a complaint online using an online form, http://www.ebrd.com/eform/pcm/complaint_form?language=en. You can learn more about the PCM and how to file a complaint at http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html.