The European Bank for Reconstruction and Development (EBRD) has acquired a minority stake in Turkish waste-to-energy firm Biotrend Cevre ve Enerji Yatirimlari.
Biotrend’s main activities are integrated solid-waste management and renewable energy generation under municipal concessions of up to 20 years.
The company, which has been listed on Borsa Istanbul since April, operates 18 waste-to-energy plants in nine Turkish cities with a total installed capacity of 72.6 MW.
“With EBRD support, Biotrend will advance corporate governance and climate-risk management, adopt higher environmental standards and procurement practices, and promote gender equality in the workplace,” the bank said in a statement.
To date, the EBRD has invested almost €14bn in Turkey through 349 projects, with 95% of those in the private sector.
Related Articles
Turkey ups steel exports 28% in 2024 driven by EU shipments, US takes just small percentage
Turkey upped its steel exports by 27.6% y/y in 2024 to 13.4mn tonnes, according to the Turkish Steel Association (TCUD). Growth was driven by shipments to the European Union (5.9mn tonnes, up ... more
TPAO arm contracts Subsea7 for Sakarya gas field work offshore Turkey
Turkish Petroleum Offshore Technology Centre AS (TP-OTC) has contracted international offshore service provider Subsea7 to provide inspection, repair and maintenance (IRM) services at the Sakarya ... more
Turkish firm Bonysocks earmarks $50mn to build Egyptian factory
Turkish socks manufacturing company Bonysocks plans to invest $50mn to build a new factory in Egypt, Al Ahram reported on January 12 citing the Turkish Ambassador in Cairo, Salih Mutlu Şen. ... ... more