| Project Detail |
A senior unsecured term loan up to USD 150 million equivalent in TRY in favour of Enerjisa Enerji A.S. (the Borrower or the Company). Enerjisa Enerji is an existing client of the Bank operating electricity distribution and electricity retail business in Turkey serving a quarter of Turkeys population. Enerjisa Enerji operates as a JV between Sabanci Holding and E.ON, each holding 40%. Remaining 20% is free float on Borsa Istanbul. Project Objectives The EBRD loan will finance part of the investment program for the years 2019 and 2020 of its three regional electricity distribution networks: Baskent EDAS, Anadolu Yakasi EDAS, Toroslar EDAS. Transition Impact ETI score: 64 The project targets the green and inclusive qualities. Green: The investment programme will involve upgrading and expanding the existing network and modernising customer metering. The capex investments made across the distribution networks will lead to a reduction of technical losses and improved network operation, resulting in incremental CO2 savings. Inclusive: The Project promotes womens access to economic opportunities in a male-dominated sector. The Bank will work with Enerjisa Enerji to enhance womens access to employment opportunities in the Companys workforce through a Technical Cooperation project (the TC). The TC will help Enerjisa distribution companies to develop, adopt and implement an Equal Opportunities Action Plan with a view to promote womens access to economic opportunities across all their operations. Client Information ENERJISA ENERJI AS Enerjisa Enerji AS 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 countrys total electricity distribution. EBRD Finance Summary USD 150,000,000.00 USD 150 million equivalent in TRY. |
