Notice

Category A project supported: Niğde G4-Bor-1 Solar Power Plant Project, Türkiye

Published 13 January 2026

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1. PROJECT DESCRIPTION

UK Export Finance has agreed to provide support to the Borrower, Smart Güneş Enerjisi Teknolojileri Ar-Ge Üretim San ve Tic A.Ş. (Smart Solar) for the construction and operation of the Niğde G4-Bor-1 Solar Power Plant Project in Türkiye which will have the capacity to generate approximately 128-Megawatt peak and covers approximately 201.3 hectares (the ‘Project’).

The Project is aimed at increasing the share of renewable energy resources and resource diversity in Türkiye.

The equipment being installed at the Project site includes approximately: 250,000 photovoltaic solar panels, 28 inverters, panel support systems, 180 km of cables, connectors, a substation and switchyard, transformer, fencing, lighting, and camera systems, among other elements.

The Project will transmit the generated solar energy via a 154-kilovolt transmission line stretching 29.5 kilometres (km) to the Yaysun Substation. This was constructed recently by a third party but was considered an associated facility in our due diligence.

2. PROJECT SECTOR

The Project is in the renewable energy sector.

3. PROJECT SPONSORS

The Project is developed by Smart Güneş Enerjisi Teknolojileri Ar-Ge Üretim San ve Tic A.Ş. (Smart Solar), and owned and operated by Smart GES Enerji Üretim A.S.

4. UK EXPORTERS

UK Grid Solutions Limited., a subsidiary of GE Renewable Energy Technologies Private Limited.

5. EXPORT CREDIT AGENT BANK

ING BANK N.V. (ING)

6. AMOUNT OF UK EXPORT FINANCE SUPPORT

The maximum liability of the support is approximately Euro 23 million.

7. OECD COMMON APPROACHES AND EQUATOR PRINCIPLES

UK Export Finance categorised the Project as Category A i.e. having potentially significant environmental, social and human rights (ESHR) impacts in accordance with the definition in the Organisation for Economic Co-Operation and Development (OECD) Recommendation of the Council on Common Approaches for Officially Supported Export Credits and Environmental and Social Due Diligence (“Common Approaches”), OECD/LEGAL/0393 and the Equator Principles (2020).

As required by the OECD Common Approaches, UK Export Finance disclosed its possible involvement in the Project. A notification was posted on the UK Export Finance web site on 2 July 2025, which directed interested parties to the contact from where published ESHR information can be sourced. UK Export Finance did not receive any comments from interested parties.

Ramboll Netherlands BV (Ramboll) was commissioned by Smart to undertake an independent environmental and social due diligence (ESDD) review on behalf of ING and UK Export Finance.

8. ENVIRONMENTAL, SOCIAL AND HUMAN RIGHTS STANDARDS

Project related ESHR documentation was reviewed for their alignment against the 2012 International Finance Corporation (IFC) Performance Standards (PS) on Environmental and Social Sustainability and the World Bank Group Environmental, Health and Safety (EHS) Guidelines (relevant international standards).

The applicable IFC PS are:

  • PS1: Assessment and Management of Environmental and Social Risks and Impacts;
  • PS2: Labour and Working Conditions;
  • PS3: Resource Efficiency and Pollution Prevention;
  • PS4: Community Health, Safety and Security;
  • PS5: Land Acquisition and Involuntary Resettlement;
  • PS6: Biodiversity Conservation and Sustainable Management of Living Natural Resources; and
  • PS8: Cultural Heritage

The General EHS Guidelines (2007) are applicable to the project. The IFC/European Bank of Reconstruction and Development (EBRD) Note on Workers’ Accommodation: Processes and Standards (2009) is also considered relevant.

9. NATURE OF ESHR IMPACTS

The review of potential ESHR risks and impacts took into account the following impacts, receptors and issues during the construction and operational phases of the Project:

  • health and safety;
  • human rights;
  • biodiversity;
  • livelihood impacts;
  • climate change;
  • emissions;
  • wastewater treatment;
  • waste and hazardous material management;
  • emergency planning and response;
  • construction camp conditions;
  • grievance mechanisms;
  • worker conditions of contract; and
  • community engagement

10. ASSESSMENT OF ESHR IMPACTS

A review was undertaken in line with the requirements of the OECD Common Approaches and Equator Principles to identify potential ESHR risks and impacts of the Project and how these would be effectively managed.

Ramboll, acting as the Independent Environmental and Social Consultant (IESC) with a duty of care to UK Export Finance and ING, undertook an ESDD assessment of the Project producing an ESDD report.

The review included:

  1. An IESC site visit undertaken between 24 and 26 September 2024;
  2. A desk-based review of project-related documentation including an Environmental and Social Impact Assessment, Environmental and Social Management Plans (ESMPs), and Stakeholder Engagement Plan;
  3. A follow up site visit on 4 and 5 March 2025 to assess the Project’s implementation of the ESMPs; and
  4. Follow-up meetings and interviews with relevant Project representatives.

The results of this review formed the basis for the evaluation of the Project’s alignment with relevant international standards, and recommendations for future compliance and monitoring.

Taking account of the review, the Project was deemed to have potential to cause a number of adverse environmental and social impacts both during construction and operation. However, a proposed suite of controls as part of the Project’s environmental and social management systems should facilitate the management of these impacts.

11. CLIMATE CHANGE CONSIDERATIONS

UKEF considered the potential direct and indirect greenhouse gas (GHG) emissions of the Project and effects of climate change factors on the Project as part of its ESHR review.

The Project is not considered to be a carbon intensive undertaking and so “high” GHG emissions in excess of relevant thresholds for quantification and reporting set by international standards were reasonably not envisaged.

The review revealed that the Project design has considered potential physical impacts of climate change such as changes to rainfall and weather patterns.

12. DECISION

Various actions or commitments have been agreed between Smart Solar ING, and UK Export Finance which are necessary to ensure the Project’s on-going alignment with relevant international standards. Following agreement of these commitments, it was concluded that the Project should meet the relevant international standards over the Project cycle. UKEF has therefore decided to provide its support in respect of the supply of goods and services by UK exporters to the Project.

A condition of support is that Project will be subject to monitoring and reporting in order to provide satisfaction that the Project is aligned with the relevant international standards throughout the duration of support.

UK Export Finance

12/01/2026

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