• Turkey
Where the impacts of the investment may be experienced.
Financial Institutions
  • European Bank for Reconstruction and Development (EBRD)
  • International Finance Corporation (IFC)
  • 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
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.
Osmangazi Elektrik Dagitim 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 Type(s)
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 57.97 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported TRY 225.00 MLN
Converted using 2018-03-14 exchange rate.
Primary Source

Original disclosure @ FMO website

Updated in EWS Apr 9, 2018

Disclosed by Bank Mar 14, 2018

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Project Description

This project provides financing to Osmangazi Elektrik Dagitim A.S. for the construction and modernization of existing network and distribution lines, the expansion of the automated electricity metering system, expansion of the network, and the installation of a new automatic control system and related investments.

Investment Description
  • European Bank for Reconstruction and Development (EBRD)
  • International Finance Corporation (IFC)
  • Netherlands Development Finance Company (FMO)
Private Actors
Private Actors Description

Osmangazi Elektrik Dagitim A.S. (OEDAS) is the exclusive electricity distributor of a region covering five provinces in central Turkey, namely Eskisehir, Afyon, Usak, Kutahya and Bilecik. OEDAS provides power distribution services to 1.6 million customers in the OEDAS Region, which has a population of 2.7 million in 194 towns and 1,596 villages, within 59 districts. OEDAS distributed a total net energy of 6.1 TWh in 2016.

OEDAS is wholly owned by Zorlu Osmangazi Enerji Sanayi ve Ticaret A.S., a joint stock company incorporated in Turkey. Zorlu Osmangazi also wholly owns Osmangazi Elektrik Perakende Satis A.S. (“OEPSAS"), the incumbent electricity supply company serving the OEDAS Region as well as other parts of Turkey. The Company and OEPSAS were acquired in February 2017 by Zorlu Osmangazi, which is wholly owned by Zorlu Enerji Elektrik Uretimi A.S. Zorlu Enerji is a Turkish power company with approximately 1,100MW of operational assets and active in wholesale electricity trading. Zorlu Enerji is a subsidiary of Zorlu Holding, one of the largest conglomerates in Turkey, which also owns two gas distribution companies and a retail sales company in addition to OEPSAS. 

Contact Information

No contact information provided at time of writing.



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.