Early Warning System

Regions

Europe and Central Asia

Geographic location where the impacts of the investment may be experienced.

Countries

Turkiye

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

Approved

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 14, 2022

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.

Borrower

Enerjisa Enerji AS

A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.

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, guarantee, technical assistance, advisory services, equity and fund.

Investment Amount (USD)

$ 110.00 million

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.

Project Cost (USD)

$ 110.00 million

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 Oct 16, 2023

Disclosed by Bank Jan 10, 2023

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

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.

According to the Bank’s website, the project consists of a senior unsecured loan of up to USD 110 million equivalent in TRY to Enerjisa Enerji A.S. Enerjisa Enerji is an existing client of the Bank operating electricity distribution and electricity retail business in Turkiye serving a quarter of Turkiye's population. Through its subsidiary Enerjisa Musteri Cozumleri and Esarj, the borrower operates EV Charging station networks and provides distributed energy business services.

Enerjisa Enerji operates as a JV between Sabanci Holding and E.ON, each holding 40%. Remaining 20% is free float on Borsa Istanbul.

The transaction will help the Borrower to expand EV charging infrastructure network and distributed energy business (mostly small and medium scale solar) and implement 2021-2025 regulatory period electricity distribution network capex investment plan.

The Project will enable (i) the modernisation of distribution infrastructure, more-efficient equipment, and enhancement of smart grid applications, (ii) advancing and expanding EV charging infrastructure and decarbonisation of industrial sector in Turkiye and (iii) reduction of losses leading to combined CO2 savings of c. 119,999 tons per annum. In addition, the Project will include improvement of corporate climate governance via implementing specific CCG improvements to further enhance its climate governance and disclosure practices. In addition, the Bank's financing will help promote digitalisation through investments in smart grid infrastructure across Enerjisa Enerji's distribution regions.

Gender Additional Standard Setting: The Borrower will integrate gender considerations into its climate corporate governance practices. In addition, Enerjisa Enerji will design and implement an outreach programme aiming to increase the talent pool of women with market-relevant climate-related skills in the sector.

Investment Description

Here you can find a list of individual development financial institutions that finance the project.

European Bank for Reconstruction and Development (EBRD)

Private Actor 1	Private Actor 1 Role	Private Actor 1 Sector	Relation	Private Actor 2	Private Actor 2 Role	Private Actor 2 Sector
-	-	-	-	ENERJISA ENERJI AS	Client	-

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

Cem Gokmen Gokkaya
cem.gokkaya@enerjisa.com
00905304614086
https://www.enerjisa.com.tr/
Barbaros Mah. Begonya Sok. No: 1/1 Nida Kule, Bati Atasehir Istanbul / Turkiye

ACCESS TO INFORMATION

You can request information by emailing: accessinfo@ebrd.com or by using this electronic form: https://www.ebrd.com/eform/information-request

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 at: 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