EBRD Extends US$30 Million Loan to Türkiye’s Team Agro for Geothermal Greenhouse Project
The European Bank for Reconstruction and Development (EBRD) has provided a US$30 million loan to Türkiye's Team Agro Gıda Sanayi ve Ticaret to fund its pioneering geothermal greenhouse project in Aksaray. The loan will also assist the company with its working capital needs as it expands into sustainable agriculture.
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Innovative Geothermal Greenhouse for Sustainable Agriculture
Founded in 2014, Team Agro has primarily traded in soft commodities like sugar, wheat, and corn. Now, the company is venturing into geothermal greenhouse farming, with a new facility in Aksaray focused on tomato cultivation. The greenhouse will employ advanced agricultural techniques, including soilless farming and drip irrigation, to enhance yields and minimize emissions.
The project uses geothermal energy to create sustainable farming, reduce carbon footprints, and contribute to Türkiye’s broader climate goals.
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Environmental and Economic Impact
The greenhouse project aims to reduce carbon dioxide emissions by 18,540 tonnes per year through sustainable energy, supporting environmental sustainability. Additionally, advanced irrigation methods will conserve 655,875 cubic meters of water annually, tackling climate adaptation and water management issues.
In addition to its environmental impact, the project prioritizes inclusivity and job creation. Team Agro intends to provide new employment opportunities for women in rural Türkiye, where gender inequality in agriculture persists. By developing geothermal farming and fostering sustainable value chains, Team Agro aims to create quality jobs and empower women.
Natalia Zhukova, Head of Food and Agribusiness at the EBRD, said, “Investing in sustainable farming and greenhouse technology is more than just an environmental choice; it’s a commitment to ensuring resilient ecosystems and fostering innovation for a greener tomorrow.
She added, "We are pleased to be partnering with Team Agro, whose innovative investments will contribute strongly to the sustainability of the agricultural sector in Türkiye.”
The EBRD's backing of Team Agro's geothermal greenhouse project highlights the bank's dedication to promoting economic growth through sustainable agricultural innovation and advancing gender equality in rural regions.
