Enerjisa Enerji A.S. (FMO-65626)

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.
Specific Location
Baskent, Toroslar
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
  • Netherlands Development Finance Company (FMO)
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
A
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
Oct 24, 2025
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 A.S.
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)
$ 75.00 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.
Loan Amount (USD)
$ 75.00 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.
Other Related Projects
Primary Source

Original disclosure @ FMO website

Updated in EWS Nov 7, 2025

Disclosed by Bank Nov 6, 2025

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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.

As stated on the project disclosure page, the FMO signed a loan agreement for USD 75 million, equivalent to Turkish Lira, with Enerjisa Enerji to fund Enerjisa's new investments in electricity infrastructure and grid modernization in Turkiye. FMO's loan is part of a long-term sustainability-linked loan agreement of USD 340 million equivalent in Turkish Lira signed by four international financial institutions: the Dutch Entrepreneurial Development Bank (FMO), the International Finance Corporation (IFC), the Asian Infrastructure Investment Bank (AIIB), and Finance in Motion - Green for Growth Fund (GGF). In addition to the electricity distribution business, the financing also supports the expansion of Esarj's charging network, Enerjisa's wholly owned electric vehicle charging operator, through GGF's financing.

This six-year financing aims to strengthen the electrical energy infrastructure and modernize the grid across 14 provinces served by Enerjisa Enerji's distribution companies AYEDAS, Baskent EDAS, and Toroslar EDAS, with a particular focus on grid investments in regions affected by the earthquake. The financing falls within the scope of the "Sustainability-Linked Financing Framework" announced by the company in 2024. The Sustainability-Linked Targets of the financing include reducing greenhouse gas emissions by lowering the electricity theft-loss rate in Enerjisa Enerji's distribution regions, as well as contributing to gender equality by increasing female representation at the management level within the company. FMO classifies the investment with the 100% Reducing Inequalities and 94% Green labels.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

As stated by the FMO, Enerjisa Enerji A.S. is Turkiye's leading electricity distribution, retail sales, and customer solutions company. Enerjisa Enerji is owned for 40% by Sabanci Group, 40% by E.ON Group, and 20% publicly listed on Borsa Istanbul (the Istanbul Stock Exchange).

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
Finance in Motion GmbH Investor Finance invests in ENERJISA ENERJI AS Client Energy

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.

Client - Enerjisa Enerji AS:

Website: https://www.enerjisa.com.tr/ 

ACCESS TO INFORMATION

As part of FMO's ex-ante disclosure (disclosure of transactions before contracting), you can send requests or questions for additional information to: disclosure@fmo.nl

ACCOUNTABILITY MECHANISM OF FMO

Communities who believe they will be negatively affected by a project funded by the Dutch Development Bank (FMO) may be able to file a complaint with the Independent Complaints Mechanism, which is the joint independent accountability mechanism of the Dutch Development Bank (FMO) and the German Investment Corporation (KfW). A complaint can be filed in writing, by email, post, or online. The complaint can be filed in English or any other language of the complainant. The Independent Complaints Mechanism is comprised of a three-member Independent Expert Panel and it can provide either problem-solving, compliance review or both, in either order. Additional information about this accountability mechanism, including a guide and template for filing a complaint, can be found at: https://www.fmo.nl/independent-complaints-mechanism

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How it works