Vendor loan usage on insulation materials in Istanbul

Deferred payment is a very common payment method in Turkey, i.e. many enterprises prefer using a vendor loan instead of their own capital or banking finance to meet their working capital needs. TurSEFF provides vendor loans to address working capital needs of Resource Efficiency and Renewable Energy equipment vendors.

Ode Yalıtım is an Istanbul-based company that produces and sells building and HVAC insulation materials.

TurSEFF’s user friendly Technology Selector tool encouraged the company in benefiting TurSEFF loans. The company applied to the vendor loan option, which is one of the TurSEFF financing solutions, for meeting their working capital needs in 2018.

Company financed the investment by TurSEFF loan. During the project implementation, TurSEFF team assisted the company in using Green Technology Selector and helped them to make a decision among online list of pre-approved equipment.

The company used €2,847,002 vendor TurSEFF loan from a partner financial institution.  With the insulation products that are sold, 3,581 toe primary energy savings will be achieved.

It is estimated that the proper implementation of the purchased insulation materials will help reduction of the CO2 emissions up to 9,745 tonnes per year.

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.