Enerjisa Enerji Loan (EBRD-50776)

Countries
  • Turkey
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
Active
Bank Risk Rating
B
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
Feb 24, 2020
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.
Borrower
Enerjisa Enerji AS
The holder of the loan, grant, or other investment.
Sectors
  • Energy
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 150.00 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)
$ 409.00 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 Mar 17, 2020

Disclosed by Bank Feb 24, 2020


Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description

According to the Bank's website, this project finances part of the borrower's investment programme for the years 2019 and 2020 of its three regional electricity distrbution networks: Baskent EDAS, Anadolu Yakasi EDAS, and Toroslar EDAS. 

Investment Description
  • European Bank for Reconstruction and Development (EBRD)
Private Actors

Enerjisa Enerji is one of the leading private utility players in Turkey, listed on the Borsa Istanbul. The Company operates electricity distribution networks and retail electricity supply companies in three regions: Ankara, Asian side of Istanbul and central-southern part of Turkey. It operates as a JV between Haci Omer Sabanci Holding A.S.  ("Sabanci Holding") and DD Turkey Holdings S.A.R.L. (fully owned by E.ON SE ("E.ON")), each partner holding 40%. The remaining 20% of shares are in a free float on Borsa Istanbul following an IPO in February 2018.  In 2018, the Company distributed 42.4TWh, corresponding to a quarter of the country's total electricity distribution.

Contact Information

Company Contact 

Cem Gokmen Gokkaya
CEM.GOKKAYA@enerjisa.com 
+90 216 579 08 13
https://www.enerjisa.com.tr/en/home 
Barbaros Mahallesi, Begonya Sokak, Nidakule Atasehir Bati, No: 1/1, Istanbul, Postcode: 34746

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 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.