The European Bank for Reconstruction and Development (EBRD) has put up a significant amount of money. This investment will help accelerate renewable energy projects throughout Europe and the Middle East. The bank has committed a €79.5 million ($92.3 million) loan to Ignitis Group, a Lithuanian state-owned utility. This funding will allow them to construct the largest onshore wind farm ever built in the Baltic Sea region. This announcement fits as one piece of EBRD’s larger strategy to support commercially viable sustainable energy solutions.
EBRD has been actively investing in Türkiye, committing over €23 billion across more than 500 projects since 2009, primarily in the private sector. Particular attention will be given to increasing the bank’s impact on projects. This will help Enerjisa Üretim in building three wind farms that will provide an aggregate of 250 megawatts (MW) of capacity. This project contributes to Türkiye’s renewable energy targets and its commitment to achieve net zero. It would make a serious dent in the country’s reliance on imports of fossil fuels.
Investment in Lithuania’s Wind Farm
The recent GEFF loan to Ignitis Group is another milestone in Lithuania’s developing renewable energy landscape. This funding will support the construction of a new, nationally significant, onshore wind farm. When completed, this farm will be the largest in the Baltic region by capacity and annual production. As governments across Europe are focusing more on renewable alternatives, this project is a perfect demonstration of EBRD’s dedication to energy transition.
That wind farm will produce clean offshore energy. Beyond this, it will generate billions in economic activity through the jobs it will create in both its construction and operational phases. The EBRD’s participation is a testament to its commitment to promote sustainable development in all its member countries.
EBRD’s Expanding Role in Türkiye
In Türkiye, the EBRD is leading the deployment of wind plants. These facilities will generate an estimated 630 GWh of electricity annually. This project is a continuation of Enerjisa Üretim’s strong 1 gigawatt (GW) wind energy pipeline. It will cut carbon dioxide emissions by approximately 221,000 tonnes per year, an impressive environmental legacy.
Şule Kılıç from EBRD expressed her enthusiasm for the partnership, stating, “We’re pleased to support our longstanding client, Enerjisa Üretim, in growing its renewable energy portfolio.” Beyond improving Türkiye’s energy sustainability, this collaboration seeks to improve its energy security.
Enerjisa Üretim, Türkiye’s largest independent power producer, is committed to accelerating the country’s energy transition through investments in sustainable technologies. Mert Yaycıoğlu, a representative of the company, noted, “As Türkiye’s largest independent power producer, Enerjisa Üretim is firmly committed to accelerating the country’s energy transition through sustainable and renewable investments.”
Supporting Workforce Development
In addition to these projects, Enerjisa Üretim will open a vocational qualification and certification center. This hub will offer a range of nationally accredited training programs specifically designed to assist the workforce transition from one type of energy sector to another. The program trains residents in the basic skills necessary for renewable energy jobs. It seeks to develop a talented industry-ready workforce capable of fulfilling the needs of this growing and developing field.