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AkLease: A loan to develop leasing for clean energy projects in Turkey
Project
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Signature date
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Location
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Turkey
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Financing tool
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Financing amount (Euro)
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20000000
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Financing details
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EUR 20m loan
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Customer
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Ak Finansal Kiralama A.S.
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Type of customer
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Company
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Project number
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PTR1027
This information is given at the time of signature, without prejudice to any developments in the operation/project.
AkLease is a leasing company owned by a Turkish bank. It is particularly active in the country’s energy sector. For example, it supports clean energy projects – such as for wind energy – and energy efficiency projects.
Client presentation
AkLease is a joint venture set up in 1988 under the name BNP-AK-Dresdner Leasing by France’s BNP, Turkey’s Akbank and Germany’s Dresdner Bank. The Turkish bank Akbank became its majority shareholder in 2005 and today owns over 99% of Aklease’s capital. AKLease is one of the leading leasing companies in Turkey and operates nationwide via 12 regional offices and over 900 Akbank branches.
Project description
Proparco’s credit line will be earmarked to finance clean energy and energy efficiency projects. Aklease is a pioneer in the energy sector. For example, it has financed a 45 MW wind farm in Susurluk, thereby signing the first large-scale leasing in the energy sector in Turkey. The company is also a member of the Turkish Wind Energy Association (TUREB).
Project impact
This operation will provide long-term financial resources, which are not available on the local market, to finance clean energy and energy efficiency projects. It will contribute to the development of local renewable energy production.