en

Energy efficient lighting in Istanbul

Investor
Zorlu Yapi Yatirim A.S, Zorlu Holding
Location
Istanbul, Turkey
Investment
LED lighting and advanced lighting control systems
Investment Size
€14.9 million
Financial results
Payback period of 3.5 years; IRR of 27.8%
Energy savings
10.3 GWel per year
CO2 savings
5,527 tonnes of CO2 per year
Impact
Reduced energy costs by €700,534 per year and O&M costs by €536,220 per year

Zorlu Holding stared in 1953 as a small company in the textile region Denizli, dealing with weaving of bed sheets for private houses. Today, Zorlu Holding successfully continues in various areas, including textiles, white goods, electronics, energy, real estate, the defence industry and metallurgy. Its history covers multiple milestones, including the opening Europe’s largest factory in Vestel, the signing of the United Nations Global Compact in 2007, and accounting for seven per cent of Israel’s energy supply, being just a few.

Zorlu Yapi Yatirim A.Ş intended to carry out an energy saving project within the Zorlu Centre in Marmara region, the European side of Istanbul. The project consisted of upgrading a lighting system to a comprehensive LED lighting system.

The company contacted MidSEFF for loan financing of this project.

The MidSEFF team performed the project analysis, including financial-technical parameters, energy savings potential, profitability, risks and environmental aspects to make sure the project generates sufficient energy savings and reduces CO2 emissions.

The €14.9 million investment allowed the company to reduce its energy consumption by 10.3 GWh per year, which is equal to annual savings of €700,534 million. Additionally, the project results in the reduction of operation and maintenance costs by €536,220 per year. The investment will be repaid in three and a half years from savings and other benefits, and will continue to generate income further on. Electricity savings will also reduce electricity usage from the grid and enable the reduction of 5,527 tonnes of CO2 emissions per year.

This project demonstrates the best practices of wise use of energy resources and strengthens the company’s financial standing.

print