Dear Readers,
Our world is facing the destructive effects of climate change. In this critical process, transforming our energy systems and taking a step towards a sustainable future is more important than ever. As QNB, we are proud to be among the pioneers of this transformation.
Investments in renewable energy not only have positive effects on climate change, but also contribute significantly to socio-economic development by creating new employment areas and reducing dependence on energy. For this reason, we prioritize renewable energy projects in energy production investments.
Promoting Clean Energy Transformation
We encourage our customers to support financing for clean energy transformations. In this context, we offer special financing solutions for investments based on renewable energy sources such as solar energy, wind energy and hydroelectric energy. As of the end of 2023, the amount of credit we provided to the renewable energy sector reached 368 million US dollars. In this way, we contributed to the expansion of clean energy infrastructure and the reduction of dependence on fossil fuels.
Investing in Our Own Clean Energy Transformation
In recent years, investments in self-consumption-based solar power plant (GES) have become increasingly important in order to reduce increasing energy costs and carbon footprint. As QNB, we manage the investment processes that support our green transformation for our own operational consumption. In this context, we are working intensively on our GES project based on self-consumption. Additionally, with the completion of our self-consumption-based GES project, we aim not only to reduce our energy costs but also to significantly reduce our carbon footprint and contribute to environmental sustainability. In this process, we aim to guide companies planning to invest in land-based GES by sharing the experience we have gained.
Becoming One with the World
In line with our sustainability strategy, we both support our customers' transformation and contribute to our own transformation. With our sustainability efforts, we aim to contribute to reaching the Sustainable Development Goals. In this direction, I would like to share with you our actions that we realized in 2023:
The amount of credit we provided for project financing in the renewable energy sector reached 368 million US dollars as of the end of 2023.
The total installed capacity of the renewable energy projects we financed reached 1,569 MWp.
The share of renewable energy projects in total project financing increased to 11%.
The share of renewable energy projects in the total energy projects portfolio became 100%.
In addition to these efforts, we increased the share of sustainable loans in total Project Financing to 38.9% to represent our commitment to sustainable development and to strengthen our solid position in the sector.
We will continue to fulfill our responsibilities to ensure that future generations grow up in a more livable future by saying Bencimin One With The World ( Dünyayla1). In line with our mission to be a pioneer not only in financial success but also in environmental and social impacts, we will continue our efforts for a sustainable world. Because our power comes from the world, we carry the responsibility of being the pioneer of energy with the World1.
Zeynep Kulalar
Executive Vice President of Corporate Banking and Project Finance
