20 million Euro energy efficiency facility agreement from AKLease

AKLease, which supports investments that contribute to Türkiye’s development with its expert leasing solutions, has signed a facility agreement of 20 million euros with Green for Growth Fund (GGF). AKLease will use this new financing in renewable energy and energy efficiency projects.

AKLease, which has maintained its pioneering and market-leading position in the non-banking finance sector since its establishment, has secured 20 million Euro funding from Green for Growth Fund (GGF) which will be used in renewable energy and energy efficiency fields. Under the 3-year facility agreement, AKLease will increase its investments in resource efficiency and sustainability. Thus, in addition to the financing support it provides to companies, it will also take its sensitive approach to social and environmental policies to the next level.

“Our position will be further strengthened with the 20 million Euro financing”

Stating that they will finance renewable energy and energy efficiency investments even more strongly with the new agreement, AKLease CEO Eser Okyay further declared that: “This, our third loan agreement with GFF with an amount of 20 million Euro, demonstrates the confidence of international financial institutions in our country and our company, which is a subsidiary of Akbank. This long-term financing agreement with a term of three years will further strengthen our international reputation. With this facility, which will be used to finance renewable energy and energy efficiency projects, we will financially support businesses that want to invest in environmentally friendly and sustainable projects.”

“Green financing totalling 179 million dollars in approximately three years”

Drawing attention to the fact that the majority of the investments in their portfolio are in the fields of energy efficiency and green energy, Eser Okyay stated that: “As AKLease, we offer significant advantages to all companies that contribute to renewable energy, waste management, energy efficiency, raw material efficiency, water efficiency and make investments subject to leasing. We have financed projects totalling 179 million dollars through our environmentally friendly product ECOLease in approximately three years. We aim to have almost all of our portfolio comprised of ECOLease products by 2030."

About the GGF

The Green for Growth Fund invests in measures designed to cut energy use and CO2 emissions and improve resource efficiency in 19 markets across Southeast Europe, the Caucasus, Ukraine, Moldova, the Middle East and North Africa. The Fund provides such financing directly to renewable energy projects, corporates and municipalities or indirectly via selected financial institutions. The GGF’s Technical Assistance Facility maximizes the fund’s investment impact through support for capacity building at local financial institutions and partners.

The GGF was initiated as a public-private partnership in December 2009 by Germany’s KfW Development Bank and the European Investment Bank, with financial support from the European Commission, the German Federal Ministry for Economic Cooperation and Development, the European Bank for Reconstruction and Development, and the Austrian Development Bank (OeEB). The fund’s growing investor base comprises donor agencies, international financial institutions and institutional private investors, including the International Finance Corporation, the Dutch development bank FMO, and the German ethical bank GLS. The GGF is advised by Finance in Motion GmbH. MACS Energy & Water GmbH, Frankfurt am Main acts as the technical advisor.

About Finance in Motion 

Finance in Motion is a global impact asset manager focused exclusively on sustainable development in emerging markets and developing economies. The company structures, manages, and advises impact investment funds that bring together public and private investors to address climate change, strengthen biodiversity conservation, foster the sustainable use of natural resources, improve livelihoods, and promote economic opportunities.