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Turkish power company Zorlu Energy signs renewable energy PPA with Granti BBVA

Kizildere geothermal power plant by Zorlu Enerji, Turkey (source: Zorlu Enerji)
Alexander Richter 24 Feb 2020

Turkey-based financial services company Garanti BBVA has signed a renewable energy power purchase agreement to cover its electricity demand with power purchased from Zorlu Energy's geothermal, wind, and hydropower plants.

A 100% Renewable Power Purchase Agreement was signed between Zorlu Energy and Garanti BBVA, a financial services company based in Turkey, partly owned by Spanish bank Banco Bilbao Vizcaya Argentaria (BBVA), which has been operating with the brand “Garanti BBVA” since June 2019.

According to the agreement, Zorlu Energy will sell 90 million kilowatt-hours of electricity to the bank in 2020, equivalent to the level that will be consumed in 45 buildings with 813 branches of Garanti BBVA.

All of the electricity to be sold will be met from Zorlu Energy’s electricity generation plants based on renewable energy sources.

In this statement made by Garanti BBVA on the subject, 45 thousand tons of CO2 equivalent greenhouse gas emissions will be prevented in line with the contribution of more than 3 million trees to the nature. In addition, all carbon certificates corresponding to this value and mostly in the Gold Standard category will be reserved for Garanti BBVA.

Garanti BBVA General Manager Recep Ba?tug stated that, as the bank, they contribute to their customers to go beyond awareness and take action with 34 different sustainable products and services to combat climate change and social inequalities. Underlining the direct action they have taken within the scope of sustainability studies with the 100% Renewable Energy Agreement, Ba?tu? said that they believe that they will lead the industry by using 100% renewable energy in their branches, subsidiaries and buildings.

Zorlu Energy has 305 MW in geothermal energy, 135 MW in wind energy and 118.94 MW in hydroelectric power generation.

Founded in 1946 in Ankara, Garanti Bank as of March 31, 2019 consolidated assets exceeding 423 billion Turkish Liras with Turkey’s second largest private bank in the position.

Source: our Turkish sister publication JeotermalHaberler