Stantec to provide impact assessment services for Green for Growth Fund in Turkey
Stantec was awarded a two-year contract to provide technical assistance to a financial partner institution of the Green for Growth Fund (GGF) in Turkey. The GGF is an impact investment fund that mitigates climate change and promotes sustainable economic growth by investing in measures that reduce energy consumption, resource use, and CO2 emissions. The fund channels dedicated financing to businesses and households through local financial institutions and direct investments to eligible energy efficiency projects and companies. A dedicated technical assistance (TA) facility provides know-how and technical expertise to ensure that GGF’s investments are successfully implemented and comply with international standards.
As part of the newly awarded TA project, the Stantec team led by Mesut Avci, will assist a financial partner institution in Turkey with the assessment and verification of applications for funding, to certify GGF eligibility criteria for required environmental impacts are met. In addition, the team will assist in managing the environmental and social risks (E&S) of proposed sustainable energy projects to ensure compliance with the GGF E&S policy and international best practices.
“Stantec was awarded this contract based on the team’s demonstrated experience in energy audits, renewable energy financing projects, and E&S risk management,” said Murat Sarioglu, Operations Director for Stantec in Turkey. “Our team specializes in supporting both international financing institutions and local bank organizations with the financial and engineering processes that go into making the funding of energy efficiency and renewable energy projects a success.”
Stantec is a leading energy engineering consulting firm in the Turkish market, providing a comprehensive range of energy services to banks and businesses of all sizes. Over the past 10 years, the team has been responsible for the implementation of several of the country’s main sustainable energy finance programs and has provided technical consultancy services on energy efficiency and renewable energy projects in design review, feasibility assessment, and energy audits.