EBRD invests in Turkish waste-to-energy company

The European Bank for Reconstruction and Development (EBRD) invested in a minority stake in the Turkish waste-to-energy firm Biotrend. The company´s main activities include integrated solid-waste management and renewable energy generation under municipal concessions of up to 20 years. It operates 18 waste-to-energy plants in the Turkish cities of Izmir, Bursa, Balikesir, Hatay, Usak, Sivas, Aydin, Canakkale and Malatya, with a total installed capacity of 72,6 MW. Biotrend has been listed on Borsa Istanbul since April 2021.

The general aim of EBRD as a shareholder is to promote private-sector participation in municipal waste management. The Bank is currently working with the Ministry of Environment and Urbanisation and Turkish municipalities to upgrade the legal framework for public-private partnerships focused on municipal services. According to Arvid Tuerkner, EBRD Managing Director for Turkey, weak waste management is one of the top environmental problems in Turkish cities. He said that although municipalities are responsible for waste management in their jurisdictions, they face technical, financial and managerial constraints and private companies with know-how, such as Biotrend, can help cities address the waste challenge while increasing the installed capacity of renewable energy.

“One of the most important solutions for a sustainable world is the use of renewable energy sources. The effects of climate change have once again been shown by the fires along the Mediterranean coast over the summer. With new investments in the renewable energy field, it is possible to reduce carbon emissions and improve energy efficiency for a better future and healthier population. The use of biomass energy reduces greenhouse gas emissions and slows climate change. In addition, thanks to waste recycling, the soil, ground and surface waters will be protected, which ensures the production of water and nutrients. Biotrend Energy has grown approximately five times in terms of both turnover and EBITDA (earnings before interest, taxes, depreciation and amortisation) in the last three years. In 2021, we continue to grow in line with our targets. We are pleased that the cooperation with the EBRD has brought us one step closer to achieving our goals,” commented Ilhan Dogan, Chairman of Biotrend Energy.