Turkish utility to fund smart meters, smart grid and renewables with $110m loan
Turkish utility Enerjisa Enerji has secured a $110 million loan from the European Bank for Reconstruction and Development (EBRD) for grid modernisation and integration with digital tools including smart grid technologies, smart meters as well as distributed renewable energy.
Enerjisa Enerji will use the loan to implement its 2021-25 strategic plan which includes upgrading and expanding the distribution network and generation capacity with renewables for grid reliability and decarbonisation.
The loan will enable accurate billing of consumers through the installation of smart meters, which will yield data for real-time management of the grid and to provide customers with personalised energy management recommendations, a move that will help them reduce energy usage and the utility to improve services to its 21 million customers.
The modernisation will also help reduce losses, leading to direct annual savings of up to 30,405 tonnes of CO2, which is equivalent to the yearly average electricity consumption of around 60,000 homes, according to a statement.
Enerjisa Enerji will also use the loan to expand and train its workforce with new smart grid skills as well as ensure that more women pursue technical and vocational education.
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Michael Moser, CFO of Enerjisa Enerji, said: “The new world of sustainable energy, with renewable energy as the key energy source, will only be possible with huge investments in energy infrastructure. In this respect, our newly established, seven-year green financing framework with the EBRD is another milestone in a further push for sustainable energy solutions and huge investment in the Turkish energy system.”
The loan falls under efforts by the utility to improve the efficiency of the grid and follows a partnership with technology retailer Teknosa to deploy energy-efficient lighting.
The conversion to smart LED lighting will enable consumers to save energy and increase the use of renewable energy, according to Enerjisa Enerji. Some 2,500 lighting fixtures will be upgraded with LEDs in Teknosa’s stores through 2022 as part of the initiative.
Pinar, added: “In all projects we have carried out with innovative products under the umbrella of the Energy of My Business, we have guided ourselves by the concepts of energy efficiency, savings, reduction of carbon emissions and sustainability. In line with this guidance, we have the goal to contribute to the future of our country and the energy industry for a greener world. In doing so, we design and develop our services according to the requirements of our customers.”
Enerjisa Enerji is a joint venture between Sabanci Holding and E.ON, each holding 40%, with the remaining 20% being a free float on Borsa Istanbul.
