Turkey’s Yapi Kredi Leasing plans to start backing solar, biomass projects in 2014

Turkey's Yapi Kredi Leasing, which already backs wind and geothermal projects, said it plans to enter the solar and biomass segments in 2014.

Wind power will continue to dominate in terms of business volumes next year but solar is seen as a strong up-and-comer, the press office of Yapi Kredi Leasing said in response to an emailed SeeNews inquiry on Friday.

Up until 2013, demand for lease financing in the renewables sector was coming primarily from the wind and geothermal segments, the company said, adding that a 10 megawatt geothermal project it had backed was connected to the national gird this year.

“As renewables in Turkey are quite new on the regulatory side, they are still a niche market for the financiers but very attractive in terms of their growth potential.”

Yapi Kredi Leasing is a subsidiary of Yapi Kredi, a Turkish lender 81%-owned by Koc Financial Services, a 50/50 joint venture between Turkey’s Koc Holding and Italy’s UniCredit Group.

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