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Energy Efficiency loan to Limak Cement Group from Development Bank of Turkey
 
Home Page \ Energy Efficiency loan to Limak Cement Group from Development Bank of Turkey

Energy Efficiency loan to Limak Cement Group from Development Bank of Turkey

Between the Development Bank of Turkey Inc. and Limak Cement group an energy-efficiency-oriented loan agreement of Euro 38 Million 250 thousands was signed.

The signing ceremony was performed with the participations of Mr. Taner Yildiz-Minister of Energy and Natural Resources, Mr. Cevdet Yilmaz –Minister of Development, Nihat Ozdemir - Chairman of Limak Cement Group , Mr. Ahmet Yaman -Acting Chairman of Development Bank of Turkey and Mr. Metin Pehlivan- Acting General Director of Development Bank of Turkey at Ambassador Hotel in Ankara on 20 March 2012.

Mr. Nihat Özdemir Chairman of Limak Cement Group stated in his speech that “Limak Cement Group which operates ten cement factories in Siirt, Diyarbakir, Gaziantep, Sanliurfa, Bitlis, Derik, Ankara, Balikesir, Trakya and Istanbul Ambarlı as well as embodies twelve ready-mix concrete plants is presently the third-largest cement group in Turkey. Also pointed out that as outspreading a very wide geographical area from Thrace in the west to Kurtalan in the east, Limak Cement Group gives priority to the investments providing contribution to energy efficiency and environmental awareness. Especially, starting from Ergani plant, recycling of waste heat from rotary furnace projects will be our main investment area. If recycling of waste heat from rotary furnace is performed in all cement plants in Turkey, 1.2 billion kWh per year of energy saving will be achieved.

At the meeting, Mr. Metin Pehlivan, Acting General Director of Development Bank of Turkey stated that “financing of energy efficiency is a successful implementation of development banking. Pehlivan also said that as long as obtaining long-term suitable resources these resources will be transferred to these kinds of projects and additionally announced that an energy efficiency project is planned by means of apex banking products for more small and medium sized enterprises. He also pointed out during last year, approximately $500 million resource was provided from international organizations and added that as long as this kind of increase in resources continues our support of energy efficiency financing will be continued. Pehlivan expressed that in the near future, we hope that financing of energy efficiency which reducing oil consumption will soon be appeared on the market and said that in terms of current account deficit both investors and country have multi- gaining with such projects providing energy saving.


Mr. Cevdet Yılmaz Minister of Development mentioned that the importance of realization of increasing energy efficiency oriented projects in energy-intense sectors such as cement, tourism and iron - steel industry in his speech. Minister Yılmaz also stated that last year Turkey’s current account deficit of around $ 77 -78 billion and net errors and omissions item removed from this $ 54 billion of the remaining portion of $ 65 billion is due to energy imports. Yılmaz mentioned that the importance of reducing losses and leakage in the provision of energy efficiency and increasing saving and said that the cheapest energy is the efficiently used energy.

Yılmaz also stated that because of high energy prices in Turkey there is a natural stimulating structure of efficiency and said companies are under serious pressure in order to increase the efficiency against relatively high prices. He said that in long term this case is an advantageous position in terms of competitive power of Turkey and emphasized the importance of realizing energy oriented projects in energy-intense sectors such as cement, tourism and iron - steel industry. Mr. Yılmaz noticed that the environmental dimension is distinguished in sustainable development argumentations and said that creating the concept of lesser low carbon economies is being argued; consequently energy efficiency makes Turkey in an advantageous position in terms of environment energy efficiency.

Minister Yılmaz also mentioned about operations of Development Bank of Turkey and said that recently the bank within a serious effort becomes one of the most effective finance corporations in realizing especially politics determined by the government. Yılmaz expressed that according to its law, Development Bank contributes to agenda of development beyond commercial banking. Explaining the Ministry of Development cooperates with the Bank on various subjects. Minister Yılmaz stated that in the coming period of time, within the framework of regional development, we would continue to cooperate with development agencies for implementing new financial instruments.


Mr. Taner Yıldız, Minister of Energy and Natural resources who also made a speech at the signing ceremony said that “in the year 2012, we started efficiency action in energy sector and took giant steps. Minister Yılmaz stated that we have two main objectives concerning the growth and enlargement of Turkey; while providing whole energy supply security, at mean time generating energy with the local and renewable sources of energy which are granted prior rank, on the other hand energy saving efficiency which is the newest resource related projects to be developed. We implemented all developed systems of technology and actually every single investment is a price taken from our citizens by means of tariff. However, at the same time, although we are seen rear most among all OECD countries in terms of energy efficiency, it also exposes that both the distance covered and distance taken in energy efficiency will be enormous. There is a momentous potential. I mean both challenges and opportunities. From this point of view, until 2023 we at least aim at energy of around 20 percent in a concrete and tangible way. It is not come and gone sentence. It is a number that we will write in consideration of each kWh of energy efficiency extracted from nearly 25 chapters and also with their implementations. 20 percent in energy saving means that Turkey is to get rid of several billion dollars of investment”