Project Description
The proposed investment is an equity participation in Akfen Yenilenebilir Enerji A.S. (Akfen Energy or the Company), a pure renewable energy platform company set up by Akfen Holding A.S. (Akfen Holding or the Sponsor) to develop, acquire and operate a portfolio of renewable power projects in Turkey (the Project).
IFC’s investment proceeds will be used to finance: (i) completion of under construction projects of the Company; and (ii) acquisition of multi-stage renewable power projects in Turkey. Through this investment, IFC will be supporting an existing client and a strategic partner which has demonstrated strong operational and management capacity in diverse sectors including ports, airports and hotels that IFC has provided financing for.