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ESCO-based tri-generation in Turkish hospital

Investor
ESKO Elektrik
Location
Istanbul, Turkey
Investment
Tri-generation plant for a hospital
Investment Size
€590,610
Financial results
Payback period of 3.1 years
Resource savings
422 tonnes of oil equivalents per year
CO2 savings
425 tonnes of CO2 emissions per year
Impact
800 kWel renewable energy generated per year, improved energy security
Donor
EU

 

Florence Nightingale Hospital in Sisli, Istanbul was built as a smart hospital and received the title of Turkey’s first “Green Hospital Building” with the TUV Hessen Green Building Certificate. With an area of 50,254 square metres, the hospital requires a substantial supply of energy.

ESCO company “ESKO Elektrik” has been operating in the energy service sector of Turkey since 2011.

ESKO Elektrik applied for TurSEFF financing to expand the capacity of a tri-generation plant covering the needs of the Nightingale Hospital to reach the capacity of 800 kWel.

The hospital signed a 10-year Power Purchase Agreement (PPA) with ESKO Elektrik – one of the very few PPAs in Turkey. The PPA solution allows the hospital and the financing bank to overcome the lack of technical expertise and mitigate the financial and technical risks of the investment, while those are covered by the ESCO company.

Thanks to TurSEFF, the project received the needed financing, as well as support of an independent expert team that performed analysis of the proposed technology, its financial-technical parameters, energy savings and profitability.

The investment of €590,610 allows the hospital to save 422 tonnes of oil equivalents per year – enough savings to repay the investment in slightly over three years and continue to enjoy reduced costs and high quality for many more years. Tri-generation applications in hospitals are very effective solutions since they improve the reliability of power supply and satisfy the contemporary steady demand for electricity, thermal energy and cooling.

This way the EBRD, through TurSEFF, supports implementation of sustainable energy projects by the private sector.

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