The European Bank for Reconstruction and Development (EBRD) announced that it is investing 75 million dollars in green bonds issued by Turkish company Aydem Renewable Energy.
The statement from the Bank reads that Aydem raised 750 million dollars from its initial issuance, which was oversubscribed with orders for 1.6 billion dollars. This was the largest green corporate Eurobond issued in Turkey to date and one of the country’s biggest ever placements.
The bond is independently certified as compliant with the International Capital Market Association’s Green Bond Principles and will set a benchmark for the Turkish renewable energy sector.
Aydem Yenilenebilir Enerji, which is focused exclusively on renewable energy sources, operates 20 hydro plants, three wind-power plants, onegeothermal plant and one biogas plant in four Turkish regions, with a total installed capacity of 1,020 MW.
