JBIC loans USD 18m (USD 30m co-financed) to Hitachi Energy Turkey for transformer-plant expansion

Mechanism

JBIC, a Japanese government-owned policy bank whose mandate is to finance outbound investment and export activity that supports Japanese industrial competitiveness, signed a USD 18 million loan with Hitachi Energy Turkey Elektrik Sanayi A.Ş. on 2026-02-04. MUFG Bank Turkey A.Ş. co-financed an additional USD 12 million, for a combined USD 30 million facility. The proceeds fund relocation and expansion of Hitachi Energy's Turkish transformer manufacturing plant, part of the group's global response to electricity-demand growth driven by climate-transition electrification and AI-driven data-centre power demand.

This is a standard instance of Japan's state-backed outbound industrial finance: JBIC underwrites a Japanese multinational's offshore manufacturing capacity expansion, both supporting Hitachi's global transformer supply position and embedding Japanese-government-linked capital in Turkish grid-equipment manufacturing capacity.

Downstream implications

• Adds financed grid-equipment manufacturing capacity in Türkiye, a market

Hitachi Energy has targeted for transformer output serving European and regional demand.

• One of a continuing series of JBIC loans supporting Japanese firms'

offshore industrial expansion (cf. other 2025-26 JBIC facilities in the register) — reflects Tokyo's broader policy of financing Japanese-linked manufacturing capacity abroad rather than solely at home.

Open questions

• Plant size, capacity increase, and completion timeline were not disclosed

in the JBIC release; watch for a Hitachi Energy corporate announcement with fuller project detail.