22-year financing for renewable energy investments for Polat Energy

Polat Energy, a joint venture between Polat Holding and İş Enerji, signed a €127 million cash financing agreement with BayernLB, Germany's leading investment bank, based on a €143 million letter of guarantee issued by TSKB (Turkish Industrial Development Bank). It was announced that Polat Energy will invest in a 110 MW wind capacity increase and 132 MW energy storage under this agreement.

The signing ceremony, held at the Renaissance Istanbul Polat Bosphorus Hotel on July 21, was attended by Polat Energy Chairman Adnan Polat, Polat Energy Board Member Eda Polat Gkinosatis, Polat Energy Board Member Neşet Özgür Cireli, Polat Energy Board Member Kayahan Karadaş, TSKB General Manager Murat Bilgiç, TSKB Deputy General Manager Hasan Hepkaya, BayernLB Export Finance Department Director Dominik Berthold, and BayernLB Energy and Infrastructure Sectors Senior Director Sebastian Schenk.

This partnership, a milestone for the Turkish energy sector and the longest-term financing agreement in Turkish history at 22 years, has once again proven Polat Enerji's reliable position in both Turkey and Europe. This financing agreement, which also features guarantee support from TSKB and Euler Hermes, has reinforced confidence in the Turkish renewable energy sector. BayernLB's €127 million cash financing will be used for 110 MW of wind capacity expansion investments and 132 MW of energy storage investments at the Geycek WPP, Ege WPP, and Göktepe WPP projects. With this investment package, provided with favorable and competitive financing terms, Polat Enerji will strengthen its leading position in sustainable energy and capacity expansion. It will also undertake one of the largest investments ever made in energy storage in Türkiye.

At the signing ceremony, Polat Energy Board Member Neşet Özgür Cireli said, “We are continuing our investments without interruption in line with Türkiye's renewable energy goals. We are pleased to contribute to our country's energy transformation process with the capacity increases and energy storage investments we will realize at our Geycek RES, Ege RES, and Göktepe RES projects. This agreement is a significant indicator of Polat Energy's strong financial structure and international credibility. We thank all our stakeholders, especially BayernLB and TSKB.”

Kayahan Karadaş, a member of the Polat Energy Board of Directors, commented, “In this period when the security of our country's energy supply is becoming increasingly important due to fluctuations in energy markets and global developments, we believe that renewable energy investments are more crucial than ever. While high borrowing costs in the current economic climate are slowing down investments in the sector, Polat Energy is one step closer to our goals with this long-term financing package, provided with favorable and competitive financing terms, and we continue to contribute to our country's green transformation without slowing down.”

TSKB General Manager Murat Bilgiç said, “As our country transitions to a low-carbon economy, we are witnessing the increasing strategic importance of energy storage solutions, along with renewable energy and energy efficiency investments. One of these is Polat Energy's 110 MW wind capacity increase and 132 MW energy storage investment. As TSKB, we are delighted to contribute to this visionary project with our letter of guarantee support.”

"With our mission to support sustainable and inclusive development, we continue to implement financing models aligned with Türkiye's national energy goals, and we believe this strong collaboration will inspire the promotion of similar projects in the coming period."

Dominik Berthold, BayernLB's Export Finance Department Director, stated, "The successful completion of the financing agreement under Euler Hermes represents a significant milestone in BayernLB's long-standing collaboration with Polat Enerji. This agreement strongly demonstrates BayernLB's strategic approach to supporting sustainable transformation and innovation across various sectors. We are pleased to continue our mission of being a trusted solution partner for sustainable progress by contributing to projects that promote economic growth, environmental responsibility, and social benefit. We extend our sincere gratitude to Polat Enerji, TSKB, and all stakeholders for their dedicated efforts that enabled this process to be successfully implemented."

With this long-term, international financing, Polat Energy further strengthens its leading position in renewable energy and energy storage in Türkiye, while also reinforcing international confidence in the energy sector.