Turkcell Signs €50 Million "Green Loan" Agreement with TKYB
Forex - Turkcell (IS:TCELL) has signed another significant loan agreement as part of its sustainability vision. The “green loan” agreement worth 50 million euros, signed with the Türkiye Kalkınma ve Yatırım Bankası (IS:KLNMA), will be used for Turkcell's self-consumption investments and sustainability projects.
Kamil Kalyon, Turkcell's Deputy General Manager for Finance, stated that since 2021, they have met 100% of their electricity consumption from renewable energy sources and that their goal is to increase their own renewable energy resources. He said, “Recognizing that we operate in an energy-intensive sector, we have identified sustainability as one of Turkcell’s strategic focus areas in our 30th year. As Turkey's leading technology company, we take into account the environmental impact of every step we take and all of our business processes. Our eco-friendly initiatives have also garnered appreciation in the financial markets. The six-year loan agreement we signed with TKYB will significantly contribute to realizing our projects in this area and achieving our goals.”
Yeşim Şimşek, Deputy General Manager responsible for Corporate Banking and Project Finance at Türkiye Kalkınma ve Yatırım Bankası, also mentioned: “As TKYB, we continue our efforts unwaveringly in line with Turkey's green transformation journey and net zero emission targets. We secure long-term resources from international development organizations for the financing of investment projects that will contribute to the sustainable development of our country. With the 50 million euro six-year ‘green financing’ agreement signed with Turkcell İletişim on September 23, 2024, we are providing support to 13 different renewable energy projects aimed at self-consumption through the funds obtained from development finance institutions. Our goal is to ensure a sustainable and environmentally friendly future and to leave a livable world for future generations. In this context, we see the contract signed with Turkcell, which has set sustainability as a primary focus, as an important step towards achieving our goals.”