News
11 December 2020
FMO supports sustainable development in Turkey with AKLease facility
In:
Renewable energy, Traditional energy
Region:
Europe
Dutch development bank FMO has signed a five-year $25 million facility to AKLease - a subsidiary of AKBank - which will be used to provide financing of renewable energy and energy efficiency projects in Turkey.
AKLease will use the funds to be able to grow its lease portfolio, particularly in the areas of renewable energy (mainly solar panels) and energy efficiency, which still offers an attractive growth market in Turkey.
Due to increase energy prices - in particular in local currency - investments in these sectors have become more attractive in recent years. AK Lease aims to grow its portfolio share to these assets from 12% to 15%, and to become one of the leading leasing companies in these ‘green markets'.
