The loan has a one-year grace period and Turkcell will use the facility to finance its solar power plant investments.
Turkcell aims to draw 65% of its electricity needs from renewable sources by 2026. It plans to reach 100% by 2030 and become net carbon neutral by 2050.
There were 38 active solar plants with a capacity of 2 GW and an additional 190 plants with a combined capacity of 9 GW that were pre-licence.
Turkey had a combined capacity of 110 GW while pre-licences had been issued for an additional 23 GW of capacity.
At end-March, Turkcell remained the largest mobile operator in Turkey with 37mn customers, followed by Vodafone (London/VOD) with 28mn and Turk Telekom (TTKOM), controlled by Turkey’s sovereign wealth fund (TWF/TVF), with 26mn.
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