The European Bank for Reconstruction and Development (EBRD) has announced it has become a shareholder in the Turkish waste-to-energy firm Biotrend.
The institution said it has purchased a minority stake without disclosing the value and the number of shares.
The firm operates 18 waste-to-energy plants with a total capacity of 72.6MW.
With this investment, the EBRD aims to promote private-sector participation in municipal waste management.
Arvid Tuerkner, EBRD Managing Director for Turkey, said: “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.”
İlhan Doğan, Chairman of Biotrend Energy, commented: “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.”