FMO, the Dutch entrepreneurial development bank, has committed USD 100 million to Enerjisa Üretim to finance the development of three wind power plants in the Muğla province of Türkiye, with the full financing package totaling USD 180 million under an arrangement that also brings in Germany's DEG as a co-lender.

Deal Structure and Participants

The financing has been structured under the Friendship Facility, with FMO acting as Lead Arranger on the transaction.

DEG, Deutsche Investitions- und Entwicklungsgesellschaft mbH, the German development finance institution, is contributing USD 80 million to the package, bringing the combined committed amount to USD 180 million. Beyond the two development finance institutions, FMO expects to mobilize up to an additional USD 25 million from institutional investors.

The loan provided by FMO carries an eight-year tenor and is denominated in hard currency, a feature the bank described as scarce in the local Turkish market. FMO characterized the financing as helping to bridge a gap for the projects while also mobilizing additional capital through partnerships.

Three Wind Farms Totaling 250 MW

The financing covers three distinct wind farm projects, each located in Muğla province. The Gaia wind farm has a capacity of 83 MW, the Falp wind farm carries a capacity of 75 MW, and the Artuna wind farm is the largest of the three at 92 MW. Together, the projects amount to a combined installed capacity of 250 MW.

All three projects are expected to become operational in 2026. Once running, the wind farms are projected to generate approximately 630 GWh of clean electricity annually by 2027 and to avoid around 221,000 tonnes of CO₂ emissions per year.

Enerjisa Üretim and Its Ownership

Enerjisa Üretim is described as one of Türkiye's largest power producers and one of the country's leading independent power producers. The company is jointly owned by Sabancı Holding and E.ON and has a track record spanning nearly 30 years in the Turkish energy sector. Its portfolio includes both renewable and thermal generation assets.

The company has set a target to increase the share of domestic and renewable sources in its installed capacity to 70 percent by 2030. As of 2025, that share stood at approximately 63 percent. Enerjisa Üretim has described its broader ambition as evolving toward a more flexible and resilient portfolio capable of supporting Türkiye's energy transition and the country's security of supply.

Strategic Rationale for FMO

Idil Kural, FMO's Chief Finance and Operations Officer, said the financing reflects the bank's commitment to accelerating the energy transition in Türkiye through long-term, hard currency funding and by mobilizing additional capital alongside its own.

"Projects like these contribute not only to reducing carbon emissions, but also to strengthening energy security and supporting sustainable economic growth in the country," Kural said.

Kural also highlighted the role of Enerjisa Üretim as a private sector actor, stating that the company's commitment to expanding renewable energy capacity demonstrates "how strong private sector leadership can accelerate the energy transition and deliver impact at scale."

Türkiye's Renewable Energy Context

FMO framed the investment as contributing to Türkiye's broader renewable energy targets and to the country's transition toward a lower-carbon energy system.

The three wind farms, once operational, are expected to add 250 MW of renewable capacity to the national grid, with the clean electricity generation figure of approximately 630 GWh annually cited as the projected output level to be reached by 2027.

The involvement of both FMO and DEG under the Friendship Facility reflects a coordinated approach between Dutch and German development finance institutions to deploy capital into the Turkish renewable energy sector, with the long-tenor, hard currency structure intended to address financing conditions that the bank said remain constrained in the local market.

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