Case Study

Energy efficient lighting in Istanbul

Zorlu Holding started in 1953, as a small company in the textile region Denizli, dealing with weaving of bed sheets in the private house. Today, Zorlu Holding successfully continues in various areas, including textile, white goods, electronics, energy, real estate, defence industry and metallurgy. Its history covers multiple vibrant milestones, including opening Europe’s largest factory in Vestel, signing of the United Nations Global Compact in 2007, and accounting for seven per cent of Israel’s energy supply, being just a few.
Zorlu Yapi Yatirim A.Ş intended to carry out an energy saving project within the Zorlu Centre in Marmara region, the European side of Istanbul. The project consisted of upgrading a lighting system to a comprehensive LED lighting system.
The company contacted MidSEFF for loan financing of this project.
The MidSEFF team performed the project analysis, including financial-technical parameters, energy savings potential, profitability, risks and environmental aspects to make sure the project generates sufficient energy savings and reduces CO2 emissions.
The €14.9 million investment allowed the company to reduce its energy consumption by 10.3 GWh per year, which is equal to annual savings of €700,534 million. Additionally, the project results in reduction of operation and maintenance costs by €536,220 per year. The investment will be repaid in three and a half years from savings and other benefits, and will continue to generate income further on. Electricity savings will also reduce electricity usage from the grid and enable the reduction of 5,527 tonnes of CO2 emissions per year.
This project demonstrates the best practices of wise use of energy resources and strengthens the company’s financial standing.
17 Apr 2013