İş Group becomes a partner in wind turbine manufacturer Ateş Çelik
The İşbank Group has increased its investments in the renewable energy sector by forming a partnership with domestic wind turbine manufacturer Ateş Çelik. This move contributes to Turkey's green energy transition.
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This partnership, led by İş Enerji, involves a total investment of 45 million Euros, with participation from Maxis Venture Capital and the Turkey Green Fund, for which the Industrial Development Bank of Turkey (TSKB) is the anchor investor. Of the investment, 20 million Euros were provided by the Turkey Green Fund, while 25 million Euros were financed by Maxis Venture Capital. Through this partnership, İş Enerji has acquired a 15 percent stake in Ateş Çelik.
İşbank General Manager Hakan Aran stated that they aim to contribute over 2 billion dollars to green transformation projects with this investment. TSKB General Manager Murat Bilgiç emphasized that selecting this project as the first investment of the Turkey Green Fund is significant in terms of supporting domestic turbine production.
Founded in 2007 and operating with more than 1,300 employees, Ateş Çelik plans to increase its production capacity and expand its exports thanks to this partnership. Ateş Çelik Vice Chairman of the Board Mahmut Güldoğan stated that this collaboration is more than just a financial partnership; it is a strategic investment in the country's future.
World Bank Country Director for Turkey Humberto Lopez stated that this agreement will contribute to Turkey's energy security and employment.