Aklease obtained USD 25 million funding from Dutch development bank FMO with a maturity of 5 years for renewable energy financing. This is the first and only funding FMO provided for the finance sector in 2020.
A leader in non-banking financing sector since its foundation, Aklease continues to pioneer innovation in renewable energy finance. Aklease will support energy and energy efficiency investments through the 5-year USD 25 million source secured from the Netherlands Development Finance Company (FMO), keeps being the pioneer of many innovations within the field of renewable energy financing.
Regarding the financing, Aklease CEO Çetin Düz stated, “Providing the right long-term financing model for the energy sector is essential for its growth, just like any other project and investment. As Aklease, we have been the pioneer of innovation in renewable energy financing in our country, providing a total of 150 mw GES, 90 mw RES and 17 mw Cogen financing. The total energy production through these projects is approximately equivalent to 257 mw, or the annual electrical demand of 183,000 houses and is equal to the annual carbon absorption of approximately 11 million trees in terms of carbon emission reduction. With the awareness of the fact that the need for renewable energy is increasing with each passing day, we continue to support the energy investments of our country through this financing of USD 25 million that we obtained from FMO with a maturity of five years. We will continue to be an important actor in energy investment financing with our experience and funding opportunities.”
FMO is the Dutch entrepreneurial development bank. As a leading impact investor, FMO supports sustainable private sector growth in developing countries and emerging markets by investing in ambitious projects and entrepreneurs. FMO believes that a strong private sector leads to economic and social development and has a 50-year proven track-record of empowering people to employ their skills and improve their quality of life. FMO focuses on three sectors that have high development impact: financial institutions, energy, and agribusiness, food & water. With a committed portfolio of EUR 10.4 billion spanning over 80 countries, FMO is one of the larger bilateral private sector developments banks globally. For more information: please visit www.fmo.nl