The World Bank Group has approved $350
million (254 million euro) financing for Turkey’s
renewable energy integration project to be carried
out by the country’s electricity transmission
company TEIAS, the bank said.
The financing comprises of an 18-year $300 million
loan to be provided by the International Bank for
Reconstruction and Development (IBRD) and a
20-year $50 million funding by the Clean
Technology Fund (CTF), World Bank Group said in a
statement on Friday.
Turkey’s renewable energy integration project is
aimed at assisting the country in meeting its
increasing power demand by strengthening the
transmission system and facilitating large-scale
renewable energy generation. The project also aims
to avoid greenhouse gas emissions from fossil
fuel-based power through the greater integration
of renewable energy source-based generation in
Turkey. It consists of four components that are
expected to help alleviate the key barriers that
inhibit faster development of wind energy in the
country, said the bank.
Source: SeeNews
Related content
Friday, 18 July 2025
Friday, 18 July 2025
Thursday, 17 July 2025
Thursday, 17 July 2025
