The European Bank for Reconstruction and Development (EBRD) is promoting private-sector know-how in waste management in Turkey by investing in a minority stake in the leading waste-to-energy firm Biotrend Çevre ve Enerji Yatırımları AS.
Biotrend’s main activities are integrated solid-waste management and renewable energy generation under municipal concessions of up to 20 years. The company operates 18 waste-to-energy plants in the Turkish cities of Izmir, Bursa, Balikesir, Hatay, Usak, Sivas, Aydın, Canakkale and Malatya, with a total installed capacity of 72.6MW.
Biotrend has been listed on Borsa Istanbul since April 2021.
As a shareholder in one of Turkey’s leading private waste management companies, the EBRD intends to promote private-sector participation in municipal waste management. The Bank is working with the Ministry of Environment and Urbanisation and Turkish municipalities to upgrade the legal framework for public-private partnerships focused on municipal services.
“Weak waste management is one of the top environmental problems in Turkish cities”, said Arvid Tuerkner, EBRD Managing Director for Turkey. “Although municipalities are responsible for waste management in their jurisdictions, they face technical, financial and managerial constraints. Private companies with know-how, such as Biotrend, can help cities address the waste challenge while increasing the installed capacity of renewable energy.”
With EBRD support, Biotrend will advance corporate governance and climate-risk management, adopt higher environmental standards and procurement practices, and promote gender equality in the workplace.