Jeddah: The Islamic Corporation for the Development of the Private Sector (ICD), a member of the Islamic Development Bank (IsDB) Group, today signed a €15 million financing agreement with the Turkish company Sampa to support the development and construction of a 21 MW solar power plant.

This project aims to empower Türkiye’s energy sector under the renewable energy support mechanism.

This strategic partnership underscores ICD’s commitment to fostering private sector development and supporting Türkiye in achieving its energy goals. The ICD remains dedicated to promoting the renewable energy sector in all member countries to contribute to achieving the Sustainable Development Goals (SDGs).

Through this partnership, the Turkish company will construct a 21 MW solar power plant to reduce energy costs, lower carbon dioxide emissions, and support Turkey in achieving its net-zero goals.

Additionally, Sampa is committed to promoting gender equality in the traditionally male-dominated manufacturing sector by strengthening equal opportunity policies and increasing women’s representation in its factories.

The agreement represents a significant partnership between ICD and Sampa, reflecting ICD’s strategic commitment to fostering the growth of the private sector in its member countries, particularly in strategic sectors such as renewable energy.