Akfen Holding eyes 1,000 MW renewable capacity, backed by EBRD and IFC

Akfen Holding, one of the leading infrastructure groups in Turkey, is set to increase its renewable energy portfolio to 1,000 megawatts (MW) with the support from the European Bank for Reconstruction and Development and International Finance Corporation, a member of the World Bank Group.

The two international financial institutions have each acquired a 16.67 percent stake in Akfen's recently established subsidiary, Akfen Renewable Energy. Their capital injection of $200 million will help the company become one of the largest producers of renewable energy in Turkey.

Akfen's current portfolio of renewable projects, including operational hydro and solar-powered plants and several wind, solar and hydro projects under development, has a total operational capacity of 210 MW.