The International Finance Corporation (IFC) has announced a $70m green loan to Çimsa Çimento San. ve Tic. A.Ş. (Çimsa), a leading cement manufacturer in Türkiye, to support its decarbonisation plans.
Plans include energy efficiency investments, modernisation, and the installation of solar photovoltaic panels as well as improvements in waste heat recovery systems and increased use of renewable energy, which are expected to help Çimsa reduce its greenhouse gas emissions by around 10%.
The green financing, the first of its kind for Çimsa, is expected to increase the company’s use of renewable energy to 20% by 2025.
Additionally, IFC’s Cement Decarbonisation Tool Advisory Service will help Çimsa identify operational improvements for its existing assets and further decarbonisation-related investments to achieve its sustainability targets.
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