BSTDB provided a long-term debt of EUR 40 million to the Istanbul Metropolitan Municipality for the construction and operation of a greenfield municipal solid waste incineration plant with energy recovery of up to 90MWe. The plant’s 3 incineration lines will have a total processing capacity of 1,000,000 t/year of municipal solid waste.

The operation will have important benefits for the Turkish economy. Aside from the environmental benefits related to improving the municipal solid waste management, the plant will also contribute to the electricity generation capacity of Istanbul, as it will produce electricity from readily available domestic resources. Additionally, once operational, the plant is expected to generate profits and create employment, hence having positive multiplier effects.

The Waste Incineration and Energy Generation project is co-financed by BSTDB alongside BNP Paribas, Société Générale and SERV, the Swiss Export Risk Insurance Agency. The Bank has led the environmental and social due diligence on behalf of the Lenders and SERV.