$20m to boost steel recycling in Turkey

A steel dust recycling company in Turkey is receiving $20 million (£13.2m) to double the capacity of its plant. The European Bank for Reconstruction and Development (EBRD) is providing the money to boost industrial waste recycling in the country. The Befesa Silvermet Iskenderum plant transforms electric arc furnace into zinc. The EBRD’s financing supports a solution […]

London-based bank buys stake in green energy firm

The European Bank for Reconstruction and Development (EBRD) has bought a 20% stake in a renewable energy company in Turkey. It is investing $100 million (£66m) to boost the country’s green energy sector. The funding will help Afken Renewable Energy, a subsidiary of Afken Holding, add 210MW of wind, solar and hydro capacity. The EBRD […]

Energy efficiency ‘key for Turkey’s sustainable growth’

Energy efficiency is key for Turkey to continue its economic growth in a sustainable way. That’s according to a report from the World Bank which stated although the country’s policy framework is strong, “critical institutional and functional gaps” would prevent Turkey from realising its energy efficiency goals. It added the country has “vast” energy efficiency […]

G20 ‘committed to renewable energy’

Energy ministers from the G20 and international organisations have committed to renewable energy. At the G20 meeting in Istanbul, Energy Ministers approved a “renewable energy toolkit”, which provides options for member states to accelerate the development of renewables. The toolkit, developed by the International Renewable Energy Agency (IRENA), includes areas such as reducing technology costs, exchanging […]

Banks pledge to step up energy efficiency investment

A total of 70 financing institution have committed to boost investment in energy efficiency projects. They made the pledge at a two-day conference held by the European Bank for Reconstruction and Development (EBRD) and the United Nations Environment Programme Finance Initiative (UNEP FI) in Istanbul. The regional, national and global banks will also help develop business strategies to save […]

Islamic leaders call for fossil fuel phase-out

Islamic leaders from 20 countries launched a Climate Change Declaration yesterday in Istanbul, Turkey. They are calling on wealthy nations to rapidly phase-out fossil fuels and switch to 100% renewable energy. They believe leaders and businesses should commit to using only green energy in order to tackle climate change, reduce poverty and achieve sustainable development. […]

$125m to boost waste recycling projects in Turkey

Waste recycling projects in Turkey will receive a share of $125 million (£80m). The European Bank for Reconstruction and Development (EBRD) has launched a programme to finance projects which aim to reduce waste and increase resource efficiency in the country. The Near-Zero Waste scheme expects to fund up to 12 projects such as waste recycling infrastructure, […]

Turkey in top ten for green buildings

Turkey has ranked ninth on a list of the top 10 countries for LEED – a green buildings rating system. The US Green Building Council’s (USGBC) annual ranking highlights countries outside of the US which are “making significant strides in sustainable building design, construction and transformation”. The announcement comes at a time of increased international focus on […]

$180m to boost renewable energy in Turkey

Two Turkish banks are receiving $180 million (£113.4m) to boost the renewable sector in the country. The cash will finance green projects implemented by private companies each worth between €10 million (£6.9m) and €40 million (£27.6m). The fund is part of the European Bank for Reconstruction and Development’s (EBRD) €1 billion (£0.69m) to support sustainable energy in Turkey. Sylvia […]

$25m to boost renewables in MENA region

A member of the World Bank Group is investing $25 million (£15.75M) to boost renewable energy in the Middle East and North Africa (MENA). The cash, provided by the International Finance Corporation (IFC), will be used by Alcazar Energy to develop solar and wind power plants in the Middle East, Turkey and Africa. The rapid growth […]