MWH Consortium wins €5.8 Million Energy Finance Project
Jul 26 2010
A consortium led by MWH (USA) has been awarded a major contract by the European Bank for Reconstruction and Development (EBRD) to launch and operate a $200 million credit line for energy efficient investments in Turkey entitled TurSEFF (Turkey Sustainable Energy Financing Facility).
The contract win is a significant endorsement for MWH and its partners who have a strong track record of effective working with the EBRD on similar projects in Eastern Europe.
Eugenio Ferro, Director of MWH Europe-Africa’s Energy Sector, said: “This project win demonstrates the trust we have gained during six years of successful collaboration with the EBRD. We are experts in the Energy Sector and have a strong track record of successful project implementation in the private and public sector in Turkey.”
Wim Drossaert, MWH Europe-Africa President, added: “This is a very exciting project win that affirms our position as a trusted provider of diversified consultancy services and a key player in the energy market in Europe.”
MWH is the leader of the winning consortium which also includes D’Appolonia (Italy), GFA ENVEST (Germany) and the Frankfurt School of Finance & Management (Germany). Between them the consortium members include a pool of leading specialists with expertise in marketing and implementing energy efficiency projects, successfully launching SEFF credit lines and with deep knowledge and working experience in Turkey.
Investing in sustainable energy is a high priority for the EBRD and promoting energy efficiency across economic sectors in Turkey is a key focus in its initial phase of operation there. The Turkish economy is considered energy intensive and its Government is focused on the promotion of sustainable energy investments, in particular the development of renewable energy resources. The emphasis is on tackling three key challenges – cutting down on CO2 emissions, achieving security of energy supply and reducing the cost of importing energy, 75 per cent of which has to be bought from abroad.
The MWH-led consortium’s role will include helping prospective borrowers identify the best solution for their investment needs and preparing loan applications. The TurSEFF team is grant-funded by the Clean Technology Fund and the European Commission in collaboration with the Turkish Treasury.
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