(MENAFN) The European Bank for Reconstruction and Development (EBRD) is investing USD280 million in the energy sector in Turkey for this year.
It comes as the EBRD decided to keep on extending this amount for the Turkish energy sector as it has been for years.
Managing Director for Sustainable Infrastructure Group at the EBRD Nandita Parshad confirmed that the bank allocated USD100 million in a stake of Turkey's Ictas Surdurulebilir Enerji Yatirimlari.
Parshad stated: "with the injection of the EBRD funds, it now plans to invest in wind farms and solar projects with a combined capacity of up to 250 megawatts. Equity is a great way for us to support the further growth of renewable energy in Turkey."
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