“The reason we prefer renewable energy is that it is in line with our Holding’s overall strategy. When investing, you must invest in thinking ahead. In the future, this business should be a business with an increase in value. It is important to invest in an increasing value instead of investing in a business that loses value. It is always more attractive to invest in the sun, wind, hydroelectric power plant and geothermal, instead of coal or natural gas, which has become increasingly popular. When you look at the course of the world, you see that there is much more demand for these kinds of assets in the Western world.

Because the buyer of your assets is the Western world as a WPPult. You have to produce a good, an asset, as the Western world wants. If you do not produce it, you cannot get out, you will be the last owner. When you are the last owner, you start losing money. Therefore, the general strategy of our holding is to invest in assets that can be more valuable and more valuable in the future. Renewable energy is one of them. Currently, there is much more demand for renewable energy in the world compared to other energy sources.”

TURKEY’S LARGEST GREEN ENERGY LOAN AGREEMENT SIGNED

Only focusing on domestic and renewable energy sources like wind, solar and hydropower and setting the goal of reaching 1000 MW of “clean installed power” by 2020 in this area Akfen Renewable Energy received the largest green energy loan worth of 530 million USD in 2018 for solar and wind energy projects in Turkey.

Domestic-foreign financial giants have joined forces for a total of $ 363 million in loans for 9 solar power plant (SPP) and 4 wind power plant (WPP) projects to be implemented by Akfen Renewable Energy.

Accordingly, the European Bank for Reconstruction and Development (EBRD) and Türkiye İş Bankası undertook the $ 103 million loan for SPP projects. The $ 260 million loan for WPP projects was provided by Germany-based KfW IPEX-Bank and the EBRD, under the guarantee of Vakıfbank, Garanti Bank, Yapı Kredi Bank and Türkiye İş Bankası. 13 power plants with a total power of 327 megawatts were completed in about 1 year as planned and the total electricity of the households of 1.2 million people was supplied from all natural sources.

REACHED THE ENERGY PORTFOLIO OF 773 MW

Akfen renewable energy, which started its foundation in 2007 has reached 693 MW of green power generation in total in just 13 years with 13 plants that were commissioned by using the largest green energy loan in Turkey. The total portfolio of Akfen is calculated as 773 MW with the projects under construction and development phase.

It is necessary to underline that this huge power is derived entirely from domestic and renewable energy sources. This green portfolio, whose plants currently in operation produce electricity of 1.4 billion kWh, provides uninterrupted energy to 3 million people in 731 thousand households annually. Thus, all of the plants in operation reduce annual greenhouse gas production of 1.2 million tons.

BALANCED PRODUCTION IN SOLAR, WIND AND HYDRO POWER

235.7 MW of Akfen Renewable Energy’s total portfolio consists of 13 hydroelectric plants which are running operation. On the other hand, the solar power plant, which has a total installed capacity of 121.4 MW with 108.44 MW in operation and 13.0 MW in permit phase, is the other part of Akfen’s new energy investments. Akfen also has a total wind power plant portfolio of 415.7 MW, of which 348.9 MW is in operation, 6.8 MW is