Japanese investment fund continues to invest in Turkish solar sector

(Enerji IQ – Sept. 8, 2021) Turkey’s Competition Authority approved the acquisition of sole control of Istanbul-based Boras Enerji A.S by Japan Energy Capital 1 LP through JEC Renewable Energy Private Venture Capital Investment Fund.

Founded in 2014 by Ibrahim Halil Korkmaz in Istanbul with a capital of 50,000 TL, the company does not have any market activity based on EMRA’s license database and TEIAS’ investment statistics. According to the limited information on its website, the company aims to invest in renewable energy, especially solar.

JEC Renewable Energy Private Venture Capital Investment Fund, founded in 2019 by Ak Bank’s subsidiary Ak Portfolio, has been investing in small and medium-sized solar power plants since 2020. Ak Portfolio announced in June this year that the total investment of the fund has reached 23 MW. Japan Energy Capital 1 LP fund is known as an investment fund established to invest in renewable energy in the MENA region and Turkey.