Aida Energy was established in 2013 to manage the construction and operation of a hydropower plant in the Sivas province of Türkiye.
The company applied for TurSEFF financing to purchase and install two turbines with the capacity of 2.57 MWel each and develop a 5.14 MWel hydropower plant.
The TurSEFF team performed the project analysis, including its financial-technical parameters and profitability, as well as environmental aspects to make sure the investment leads to sufficient energy savings without hindering the local environment.
The €4.3 million investment allows the generation of over 15 GWh of “green” electricity per year contributing significantly to the reduction of greenhouse gas emissions at the national level and an increase of renewable energy capacity in the Turkish power mix. The investment will be repaid out of energy generation in slightly over four years, generating revenue for many more years. In addition, the local environment was sustained through construction of a fish passage to prevent interference in the natural processes and to meet regulations.
This project demonstrates the attractiveness, profitability and sustainability of the hydro power business for companies, and its priceless value for the country and the environment.
This way the EBRD, through TurSEFF, supports implementation of sustainable energy projects by the private sector. Together, the private, residential and public sectors can make a change in energy consumption patterns and environmental protection.