The funds will be secured by Garanti Bank and Yapi ve Kredi Bankasi to finance mid-sized renewable energy projects undertaken by private sector firms.
Each development will range between €10m and €40m. The projects to be supported will include solar, hydropower, wind, geothermal, waste-to-energy and energy efficiency.
The funds of EBRD will be available via the €1bn Turkey Mid-size Sustainable Energy Financing Facility (MidSEFF) program.
The EBRD and the European Investment Bank are supporting sustainable energy finance in Turkey through the MidSEFF program.
The program has so far financed 42 projects via seven Turkish banks and created more than 700MW of further renewable energy capacity.
EBRD director for financial institutions in Turkey and southern and eastern Mediterranean Sylvia Gansser-Potts said: "This new financing builds on the fruitful cooperation the EBRD has established with Garanti and Yapi Kredi in recent years.
"Both banks have a strong track record of on-lending to private companies which invest in mid-sized renewable energy projects. Demand for renewable energy finance in Turkey remains high and both lenders have a strong pipeline for many successful investments in the sector."
The EBRD said about half of its total portfolio in Turkey is in sustainable energy. The bank has invested €2.2bn in 60 projects since 2009, including two wind farms and a geothermal power plant.
Image: The EBRD is providing a further boost to renewable energy sector in Turkey. Photo: courtesy of the European Bank for Reconstruction and Development.
