A joint venture incorporated by Aktif Bank and Halk Enerji

A joint venture incorporated by Aktif Bank and Halk Enerji for investments in solar power plants.

Aktif Bank, the largest privately-owned investment bank in Turkey, and Halk Enerji, a leading Engineering - Procurement - Construction (EPC) company in solar power plants (SPP), incorporated Aktif Halk Enerji Yatirimlari A.S. with equal shareholding ratios of 50% in order to invest in licensed and unlicensed SPP projects, and also Halk Enerji Insaat A.S. in order to provide EPC services for SPPs. Aktif Halk Enerji Yatirimlari A.S. will invest jointly in approximately 100 MW licensed and unlicensed SPP projects.

Sign-off processes have been completed for incorporation of Aktif Halk Enerji Yatirimlari A.S. and Halk Enerji Insaat A.S. by a subsidiary of Aktif Bank and Halk Enerji A.S., a SPP EPC company, with equal shareholding ratios. 

Intending not only to promote but also contribute to renewable and clean energy in Turkey via SPP project finance, Aktif Bank aims at offering the first "SPP+finance" package, including project finance, to the industry through the joint venture incorporated with Halk Enerji in SPP EPC service.

Also, the investment portfolios of approximately 100 MW SPP of Aktif Halk Enerji Yatirimlari A.S. will be offered to the investors in USD at the capital markets as a high-yielding and reliable investment opportunity. Besides capital markets, the portfolios may also be sold entirely to the investors with their SPP portfolios already generating electricity.

It is also aimed at taking out the technical certification and performance guarantee insurance from Allianz for all SPP projects of Aktif Halk Enerji Yatirimlari A.S. once project finance and investment processes are completed. 

Serdar Sumer, CEO of Aktif Bank, said: “We develop flexible models and offer boutique finance products to our investor clients. We aim to achieve investment banking literally in Turkey. Acting with this aim in our minds, we took an important step in the field of solar energy with this joint venture.  We prepared package solutions of "SPP + finance" for the investors.  Thanks to this model; we manage to minimize the risks, which are considered high by the financiers, and enable more rapid realization of investments. Because we have full faith in our joint venture and the energy industry. We intend to popularize this model in the other countries, and to be an internationally-recognized brand across the industry. We not only act as the financier but also enjoy realizing a portfolio of one of the high-quality projects with approximately 100 MW capacity in order to invest in solar power. 

So, we offer a high-yielding investment instrument with its risks minimized. We will turn this portfolio into high-yielding and attractive capital market instruments, and then, offer these instruments to the financial investors in both national and international markets. We, again, take justified pride of developing a pioneer model of the industry, and I believe that our joint venture will turn out at advantage for all stakeholders."

Mustafa Atilla, Chairman of the Board of Directors of Halk Enerji Group, said: “This joint venture is one of the most important initiatives in the solar energy market of Turkey. I hope we will realize many projects that will create a tremendous impression in both our country and target geographies in the near future. I think the combination of our know-how with Aktif Bank's finance models and market domination in the surrounding countries will bring substantial benefits to both parties of this initiative and our national economy." 

Mustafa Atilla also stated that this initiative could be a substantial R&D platform for energy storage to enable that renewable energy-based facilities will be an alternative in literal terms, besides creating a highly-important new player in contracting and investment across the solar energy industry.