KfW IPEX-Bank is playing a key role in the development of the "Enerjisa YEKA-2" onshore wind farm project in Türkiye. The project, which consists of nine wind farms across Aydin, Balıkesir, and Çanakkale, aims to deliver a total capacity of 750 MW. German manufacturer Enercon will supply and install 180 wind turbines for this initiative, with completion expected by early 2026.
The financing for Enerjisa Enerji Üretim, the Turkish energy company behind the project, involves a consortium of seven international commercial banks and development institutions. The funding exceeds USD 1 billion and includes a buyer credit of about USD 400 million covered by Euler Hermes under the German government's export credit insurance. KfW IPEX-Bank serves multiple roles in this financing arrangement: as ECA Coordinator and Agent for the insured tranche, Commercial Facility Agent for the commercial tranche, and Intercreditor Agent across all four tranches. The bank's contribution to the overall financing is approximately USD 125 million, with much of it structured as a "Green Loan."
"We are proud to be involved in this groundbreaking flagship project for the growing renewable energy market in Türkiye and to support our valued long-term client Enerjisa Enerji Üretim with our financing," said Belgin Rudack, CEO of KfW IPEX-Bank. "At the same time, we are supporting one of our core clients, the German wind turbine manufacturer Enercon, in a key growth market. Once again, our participation underscores our commitment to advancing the energy transition in Europe."