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In February 2020, OeEB signed a long-term credit line to Kuyuma Elektrik Üretim A.S., part of the Austrian enso group. The funds will be used to build and operate a 9.73 MW small hydropower plant in the Turkish Black Sea region.
| Project name | Kuyuma – small hydropower plant |
| Region | Southeast Europe |
| Sector |
Energy / Resource efficiency / Infrastructure |
| Service |
Investment Finance |
| Project country | Türkiye |
| OeEB project volume | USD 9 million |
| Project partner(s) | Kuyuma Elektrik Üretim A.S. |
Türkiye's energy demand is rapidly increasing, due to population and economic growth. Coal and gas – which to a large extent need to be imported from other countries – are currently the largest energy resources. The Turkish government therefore aims to diversify energy supply and to increase the share of renewable energy to over 50% of total energy generation by 2023. The country's large hydropower potential plays a crucial role in this.
OeEB supports this goal by financing the construction and operation of a 9.73 MW small hydropower plant in the mountains of the Samsun province in the Black Sea region. The forecast annual production is around 27 GWh. The hydropower plant contributes to improving energy supply as well as to reducing greenhouse gas emissions and dependence on expensive fossil fuel imports.