The rating by Sustainalytics, the world's leading independent ESG rating organization, is based on the 'ESG Risk Ratings' study, which measures the extent to which a company is exposed to industry-specific ESG risks and how well the company manages these risks. The ESG Risk Ratings categorize this risk into five levels: negligible, low, medium, high and very high.
The rating results announced in July 2023 show that Galata Wind has board-level oversight for ESG issues in line with best practices for ESG performance/governance. The result shows an improvement from 19.9 points last year to 14.9 points this year on the same criteria. The report also emphasizes that the efficiency and performance of Galata Wind's wind and solar power plants depends on an experienced management team and qualified technical staff.
Committed to expanding its portfolio exclusively with renewable energy activities,Galata Wind invests in sustainable energy sources for a clean future, generating 100% renewable energy with Gold Standard and VCS-certified wind and solar power plants across Turkey, reducing carbon emissions by approximately 400,000 tons per year. Galata Wind had previously announced that its investments would accelerate in 2023-2024 as part of its 2025 growth strategy. In this context, the company continues to closely monitor national and international acquisition opportunities and is interested in ready-to-build projects with long-term power purchase agreements (PPAs) or wind and solar projects to be developed from scratch, depending on country policies in Europe. In addition, as part of the planned capacity expansions at existing power plants with completed infrastructure, construction of 39 MW of additional capacity at the Mersin WPP is planned to begin by the end of 2023, while the 13 MW capacity expansion at the Taşpınar WPP is scheduled to be commissioned by the end of 2023.