The European Bank for Reconstruction and Development (EBRD) has revealed that it is promoting private-sector know-how in waste management in Turkey by investing an undisclosed amount for a minority stake in the leading waste management and waste-to-energy (WtE) firm BİOTREND Çevre ve Enerji Yatırımları A.Ş. (Biotrend Enerji).
Biotrend Enerji’s main activities are integrated solid-waste management, recycling, composting, anaerobic digestion (AD), and renewable energy generation under municipal concessions of up to 20 years. uraklaUşak
The company operates 18 integrated recycling, waste-to-energy, and landfill sites in the Turkish cities of Izmir, Bursa, Balikesir, Hatay, Usak, Sivas, Aydın, Canakkale, and Malatya, with a total installed capacity of 72.6 MWe and has been listed on Borsa Istanbul since April 2021.
As a shareholder in one of Turkey’s leading private waste management companies, the EBRD intends to promote private-sector participation in municipal waste management.
Weak waste management is one of the top environmental problems in Turkish cities. Although municipalities are responsible for waste management in their jurisdictions, they face technical, financial, and managerial constraints. Private companies with know-how, such as Biotrend, can help cities address the waste challenge while increasing the installed capacity of renewable energy, said Arvid Tuerkner, EBRD Managing Director for Turkey.
The EBRD is working with the Ministry of Environment and Urbanisation and Turkish municipalities to upgrade the legal framework for public-private partnerships focused on municipal services.
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 in the past few weeks. 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, underground and surface waters will be protected, which ensures the production of water and nutrients, commented İlhan Doğan, Chairman of Biotrend Enerji.
With EBRD support, Biotrend will advance corporate governance and climate-risk management, adopt higher environmental standards and procurement practices, and promote gender equality in the workplace.
Biotrend Enerji has grown approximately five times in terms of both turnover and EBITDA (earnings before interest, taxes, depreciation, and amortization) 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, said İlhan Doğan.
The EBRD is a leading institutional investor in Turkey and, to date, has invested almost EUR 14 billion in the country through 349 projects, of which 95 percent are in the private sector.
