Enerjisa Enerji A.S.
Status: Approved investmentWhy disclosure?
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Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer?
Enerjisa Enerji A.Ş. (“Enerjisa Enerji”) is Türkiye’s leading electricity distribution, retail sales, and customer solutions company. Enerjisa Enerji is owned for 40% by Sabancı Group, 40% by E.ON Group, and 20% publicly listed on Borsa Istanbul (the Istanbul Stock Exchange).
What is our funding objective?
FMO signed a loan agreement for USD 75 million, equivalent to Turkish Lira, with Enerjisa Enerji to fund Enerjisa’s new investments in electricity infrastructure and grid modernization in Türkiye. FMO’s loan is part of a long-term sustainability-linked loan agreement of USD 340 million equivalent in Turkish Lira signed by four international financial institutions: the Dutch Entrepreneurial Development Bank (FMO), the International Finance Corporation (IFC), the Asian Infrastructure Investment Bank (AIIB), and Finance in Motion – Green for Growth Fund (GGF). In addition to the electricity distribution business, the financing also supports the expansion of Esarj's charging network, Enerjisa’s wholly owned electric vehicle charging operator, through GGF's financing.
Why do we fund this investment?
This six-year financing aims to strengthen the electrical energy infrastructure and modernize the grid across 14 provinces served by Enerjisa Enerji’s distribution companies AYEDAS, Baskent EDAS, and Toroslar EDAS, with a particular focus on grid investments in regions affected by the earthquake. The financing falls within the scope of the “Sustainability-Linked Financing Framework” announced by the company in 2024. The Sustainability-Linked Targets of the financing include reducing greenhouse gas emissions by lowering the electricity theft-loss rate in Enerjisa Enerji’s distribution regions, as well as contributing to gender equality by increasing female representation at the management level within the company. FMO classifies the investment with the 100% Reducing Inequalities and 94% Green labels.
What is the Environmental and Social categorization rationale?
The project is an E&S B+ risk category according to FMO's Sustainability Policy, due to upgrading of and/or (new) construction works for distribution lines and networks and associated environmental and social (E&S) risks related to labour, health and safety conditions, land acquisition and biodiversity. The applicable Performance Standards (PSs) are IFC PS1-6, 8, and no trigger of IFC PS7.
- Website customer/investment
- https://www.enerjisa.com.tr/
- Region
- Europe & Central Asia
- Country
- Türkiye
- Sector
- Infrastructure, Manufacturing and Services
- Publication date
- 11/6/2025
- Effective date
- 10/24/2025
- Total FMO financing
- USD 75.00 MLN
- Funding
- FMO NV
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Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - B+