CFA Türkiye

10 exciting low-carbon projects have been announced as the third cohort of projects for Climate Finance Accelerator Türkiye!

The Climate Finance Accelerator (CFA) is a global technical assistance programme funded by the UK government to directly support climate projects to access finance. The CFA operates in nine countries (Colombia, Nigeria, Mexico, Turkey, South Africa, Peru, Egypt, Pakistan, Vietnam) with the aim of encouraging the flows of finance required to deliver on countries’ ambition to limit global warming to 1.5°C.

Delivery of the CFA in Türkiye is led by PwC Türkiye. The CFA programme provides project developers with support and training from technical, financial and gender equality and social inclusion experts. It also facilitates knowledge sharing and learning with financial institutions and public bodies, both nationally and internationally. Following the training, CFA Türkiye will bring project developers and financiers together for workshops planned in İstanbul and London. This will enable projects to meet potential investors and present their projects.

In the first phase of the programme (2021-22), 6 projects were selected and in the second phase of the programme (2022-23), 8 projects were selected. Over a period of four months, these projects in both phases received training in technical, financial, mitigation potential and gender and social inclusion aspects. The object was to help them to obtain financing with different national and international investors.

For the third phase of the CFA in Türkiye, 10 low-carbon projects have been selected from green agriculture, waste management and low carbon manufacturing sectors These projects will receive tailored one-to-one and group support to help increase their chances of securing finance from Turkish and international investors.

The CFA Programme is also holding a series of workshops in London during March 2024 with City of London financiers. Projects of appropriate size and readiness from the CFA Türkiye programme would be invited to attend. In the second phase, four projects from CFA Türkiye - Biotrend, Evreka, GIO and Werover - attended the London event among 15 projects including all CFA countries .

About CFA Türkiye

How CFA Türkiye can support your project

CFA Türkiye is a practical and deal-oriented programme that supports climate projects to improve their bankability and appeal to financiers.

Preparing projects that are attractive to investors is challenging. Low carbon projects are often perceived as higher risk as new technologies and business models are not widely understood. Regulatory and policy barriers can also create blockages in accessing capital at scale.

The CFA offers a range of support to assist climate mitigation projects in accessing finance. 

Please note that the CFA does not provide financing to projects.

Program applications were on 3rd of April until 5th of June.

Please click here to see the application questions.

For your questions, you can email us

To keep up with CFA Türkiye, follow us on LinkedIn

UK Goverment
CFA Climate Finance Accelerator

Capacity building

Project developers will gain valuable insights and develop capabilities to make projects attractive and ready for investors. This includes benchmarking projects against what a bankable / successful project looks like, gaining confidence in speaking to financiers, and learning how to structure project financing. Exchanges of best practices with other CFA countries will also be enabled.

Access to sources of finance

The CFA provides project developers greater opportunities to access finance by working directly with potential investors to understand their needs and develop their projects accordingly. Through the CFA’s reach, project proponents have the opportunity to reach commercial and concessional investors, operating both nationally and internationally.

Building networks & raising profile

Project developers will have the opportunity to raise their profile and expand their network with stakeholders across the climate finance landscape, including local and international financiers, policy makers, researchers and other private sector organisations, in addition to a cohort of projects facing similar challenges. The network will provide project developers with long-lasting benefits to current and future low carbon opportunities.

Achieving low carbon objectives.

The CFA supports projects to realise and communicate their positive impacts. The CFA has access to climate, sectoral and social impact specialists and can assist projects to support local and national climate ambitions, as well as helping to unlock co-benefits such as poverty reduction, improved gender equality and social inclusion, and tackling biodiversity loss.

Application Details

The type of projects the CFA can support

The CFA supports low carbon projects that are seeking finance.

Candidate projects should: 

  • Be designed to achieve measurable climate outcomes in terms of direct or facilitated greenhouse gas emission reductions.
  • Have a total financing need between USD $5m-$150m. Smaller projects may be considered in special circumstances. Funds or similar structures consisting of multiple smaller projects are also welcomed.
  • Be (at least) at the pre-feasibility stage of development.
  • Have a business model that will generate commercially viable returns in the long-term (although some element of concessional financing may be required initially). 
  • We strongly encourage projects that can demonstrate positive social impacts and how they contribute to furthering gender equality and social inclusion.

For further information on whether your project is suitable, please get in here

CFA Türkiye

Key dates for CFA Türkiye round three

April 2023 June 2023 July 2023  Aug-Oct 2023 
Nov 2023 
Dec 2023 
Call for proposals (3rd April) Q&A Sessions for CfP*  Call for proposal closes (5th June) Project selection process. Applicants told if successful by middle of June Kick-off for successful projects. Training and coaching starts Training and coaching continues Two-day workshop with investors Post-workshop follow up support

CFA London workshops (for selected projects)


How the CFA can work with investors:

As we enter a key decade for climate action, national and sub-national financial institutions are critical in supporting the development and implementation of low carbon projects to achieve national climate commitments.

The flows of climate finance depend on various elements including, crucially, a stock of strong projects being financed by willing investors, with these transactions being supported by a conducive enabling environment. Finance providers often lack familiarity with low-carbon opportunities in these markets, hence have a lower risk appetite or willingness to invest.

The Climate Finance Accelerator (CFA) has been established to support project developers and financiers work together to fund low carbon opportunities. 

The Climate Finance Accelerator (CFA)

By engaging with the CFA programme, financiers can benefit from: 

Visibility of low carbon project pipeline

The CFA provides local financial institutions early visibility of, and closer engagement with, a credible pipeline of profitable low carbon projects. The projects supported by the CFA will be socially and environmentally sustainable, contributing to sustainable and inclusive development.

Best practice and capacity building

Domestic financial institutions that engage with the CFA will benefit from the opportunity to better understand alternative financial mechanisms, such as innovative approaches to blended and green finance, as well as a deeper understanding of where projects are across the ‘climate finance supply chain’ - from project origination, to development, financing and refinancing.

Increased stakeholder networks

The CFA will enable local financial institutions to raise their profile and expand their networks. Deeper contacts will be fostered with other financiers, project developers, government representatives at national and local level, national and international development banks & agencies. The network will provide project developers with long-lasting benefits to current and future low carbon opportunities.

Sharing knowledge and skills

Local financial institutions can share their knowledge and skills with project developers, to support them in building projects that are more
investment-ready. This in turn will help domestic financiers to see the level of readiness of projects.

Frequently Asked Questions

Does the CFA provide funding for projects?

No. The CFA does not provide or guarantee funding for projects. The CFA facilitates access to suitable investors, and provides capacity building, networking opportunities, and visibility for projects to achieve their low carbon project objectives.

Can the same project developer submit the application for several projects?

Of course! There is no limit to the number of projects that apply to the call for proposals as long they meet the requirements described above.

Will projects developed outside of participant countries be considered?

No, projects are only considered in participant countries. It is possible for projects with different branches or partner projects in different countries to take part in the CFA, as long as the main project is in Türkiye. 

Can projects related to specific cogeneration issues be considered?

Yes, cogeneration-related projects are most welcome. Please specify how the project will cause GHG emission reductions.  

Once a proposal has been submitted, can changes be made?

Once the online application has been submitted to the Accelerator, no changes can be made. A new application must be filled out if changes are required and you should notify us by email to consider only one proposal.

Should the project finance demand amount to at least USD 5m in the first year?

The minimum amount of USD 5 M applies to the entire project, not only to the first year.

What financial instruments will be used for each of the projects?

Financing will depend on the project and its characteristics, and different instruments may be used, such as green bonds, loans, equity investments and public-private partnerships, among others.

Our project is looking to be funded at USD 30 million. Can we apply for the CFA?


Can we submit a proposal at any time during the call for proposals stage?

Yes, but we suggest doing it sooner rather than later as we review proposals on a rolling basis. 

Can projects that have applied for the previous phase of CFA but not been selected re-apply to the CFA?

Of Course! There is no limitation for the number of applications to the CFA. You are welcomed to re-apply to the CFA. 


25 Mayıs Soru-Cevap Seansı

Q&A Session Dates:

Our sessions took place on April 11, April 25, May 9 and May 25.

You can reach our session that took place on May 25 from the video.

Four projects from CFA Türkiye 2022 have attended the London event!

10 projects have been selected for the third cohort of CFA Türkiye:

  • Akçansa - A circular upcycling project that uses CO2 emissions from the stacks of cement factories to recycle construction and demolition waste into aggregates and cementitious materials. The upcycled materials are reused in the construction industry.
  • CIRCULA Design - Custom furniture production using 3D robotic printing, biomaterials, and digitalization. This female-led startup produces 100% recyclable products on-demand, incorporating cellulosic waste into their customizable designs.
  • Doktar - Deploying technology such as remote sensors and satellites to mitigate the effects of, and build resilience against climate change, whilst enabling sustainability in agriculture. Doktar improves farmer capability and welfare through digital transformation and adaptation in regards to four climate targets: water replenishment, carbon management, soil protection and biodiversity.
  • DRONEQUBE - Integrates real-time disease detection with autonomous drones and robust Software-as-a-Service solutions to optimise yield and productivity in the farms. Their autonomous drones scout the fields and detect mildew in real-time, while their SaaS solution provides immediate, actionable insights to manage farms more efficiently.
  • ForestGuard - Detecting and preventing wildfires through advanced Internet of Things technology. Patented sensors collect atmospheric data from forests and process to detect any threat. The data is transferred from even the most remote forest area using satellites, minimising the reaction time to wildfires.
  • Laska - Upcycling end-of-life tires with innovative, environmentally friendly, and sustainable production approaches. They are returned to the economy as carbon black and renewable fuel, two raw materials that have a high added value and are a sustainable alternative to fossil fuels.
  • LogD - sustainable working model that protects nature and environment via Milk Run Management. It aims to protect products against damages that may occur during receipt, delivery and transportation, and to ensure safety in retail operation.
  • Myconom - developing biodegradable composite materials using mushroom mycelium and agricultural/forestry wastes. Mycelium composites are a petroleum-free, 100% home compostable alternative to plastics and styrofoam used in packaging. They can be customised to meet specific requirements such as mechanical strength, fire resistance, or thermal insulation, making them suitable for diverse industries.
  • Niocycle Technologies - the creation of a highly efficient next generation recycling process for lithium-ion batteries, addressing the urgent need for decarbonizing solutions.
  • Unda Engineering - Calor-e thermal batteries store renewable electrical energy as high temperature heat and use it to decarbonize industrial, agricultural, and residential sectors. They can be used on grid as a “demand shifting product” or off grid with direct coupling with renewables such as solar and wind.

Click to learn more about our projects presented in the London event!

Contact us

Mevlüt Akbaş

Mevlüt Akbaş

Advisory Services Partner, PwC Turkey

Tel: +90 212 376 5302

Nazli İlgün

Nazli İlgün

Advisory Services Senior Manager, PwC Turkey

Tel: +90 212 376 5394

Ayca Şahin

Ayca Şahin

Advisory Services Manager, PwC Turkey

Tel: +90 212 376 5394

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