Garanti BBVA Launches New Fund to Expedite Investments in RE Sector in Turkey
As per Garanti BBVA estimates, by 2035, renewable energy plants will form around 74 percent of Turkey’s overall installed capacity, targeting to attain net-zero emissions before 2053.
July 17, 2023. By EI News Network
The bank assessed the potential of this business in the country and as per Deputy General Manager Mahmut Akten, said, “urgent need to accelerate investments in renewable energy.”
The bank's crucial financing contributions and its vision of a future powered by renewable sources are completely aligned with the Turkey's environmental targets and targets for sustainable energy production.
Nevertheless, the bank’s assessment of the energy sector also underscored the requirement to accelerate investments in wind and solar energy amenities.
Garanti BBVA launches ‘Garanti Portföy Temiz Enerji Karma Fon’, an innovative fund that invests in capital market instruments tied to Turkish and international companies in the sector of clean, renewable and alternative energy technologies.
As per Garanti BBVA estimates, by 2035, renewable energy plants will form around 74 percent of Turkey’s overall installed capacity, targeting to attain net-zero emissions before 2053.
Garanti BBVA’s Atken infuses renewable energy investments in Türkiye, with 42 percent of electricity production in 2022 obtaining from renewable sources. Solar power accounted for five percent of this production, while wind power contributed 11 percent.
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