A Solar Power Plant Project in Van Province

TurSEFF loan is helping clean energy production from a solar power plant.

Mehmet Fatih Aykaz is an energy investor. He invested in a solar power plant in Van

The investor was planning to make a solar power plant (SPP) investment to generate clean energy in Ipekyolu, Van in 2019, with 1.2 MW total installed power which would be sold to the grid. As a facility with an extensive experience on SPP investments, TurSEFF was preferred by the investor as a financial solution with its technical assistance advantage through the lifespan of their investment project.

The GEFF team performed the project analysis, assessed the potential of energy savings, financial-technical parameters, and risks.

The investor used € 626,007 loan from one of TurSEFF’s partner banks. With investment, the plant generates 1,618 MWh of electricity per year. The payback of the investment is 4.7 years.

The plant helps reduce up to 616 tonnes per year of the CO2 emissions, making a valuable input towards mitigation of negative effect of human activity on climate.

The Turkey Sustainable Energy Financing Facility (TurSEFF) was developed by the European Bank for Reconstruction and Development (EBRD) to provide financing for Resource Efficiency and Sustainable Energy investments. European Union (EU) is supporting TurSEFF by providing finance to Technical Assistance.