Project Category
Project Category
Banking, Finance and Insurance
Project Description
Project Description
Sisecam Group (the `Sponsor` or the `Group`), is seeking IFC`s support to reduce its carbon footprint through a major energy efficiency initiative which will include investments that were identified by an ongoing group-wide energy efficiency audit. In this context, its flat glass subsidiary, Trakya Cam Sanayi A.S. (`Trakya`, `Trakya Cam` or the `Company`), is undertaking energy efficiency projects in its plants in Turkey (Luleburgaz, Mersin, Yenisehir, Polatli) and Bulgaria. Trakya`s energy efficiency investment program (the `Project`) over 2014 - 2015 includes the following capital expenditure: (i) cold repair and revamping of furnaces at Trakya`s Mersin plant in Southern Turkey; (ii) [6]MW ([4] MW net) of power generation from waste heat recovery at Trakya-Mersin; (iii) flue gas treatment accompanied by a similar waste heat recovery unit at Trakya Bulgaria; and (iv) a number of smaller energy savings and efficiency improvement projects (such as energy measurement and monitoring systems and LED lighting at the plants) in Trakya Cam plants in Bulgaria and Turkey. The waste heat recovery projects in Turkey and Bulgaria also have the potential of being replicated in time in the Groups float plants investments in other locations and in Anadolu Cams larger facilities. IFC has a long-standing relationship with Sisecam developed over 40 years. At present IFC holds equity in the Group and in the chemical business segment, and has outstanding loans to several of the Group`s glass and chemicals companies in Turkey, Russia, Bulgaria, Georgia and Bosnia Herzegovina. Previously in 2009-2010, IFC helped Sisecam finance capital expenditure program aimed at improving Trakya`s productivity and environmental performance and entry into new business lines such as solar glass and energy efficient coated glass. Ongoing supervision of the existing investments at Group level and glass business indicates the Group`s environmental and social performance is generally satisfactory.
Our Reference Number
Our Reference Number
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