World Bank approves financing package for renewable projects
The World Bank has approved 400 million euros ($468.4 million) in additional financing to help expand Türkiye’s renewable energy market, focusing on wind power and utility-scale battery energy storage projects, the lender has said.
The financing expands the Accelerating the Market Transition for Distributed Energy Program, building on the success of its first phase, approved in 2024, which helped accelerate the deployment of low-voltage distributed solar energy systems across the country.
The new package consists of two 200 million euro IBRD loans provided to the Development and Investment Bank of Türkiye (TKYB) and the Industrial Development Bank of Türkiye (TSKB) under a results-based financing framework.
With the additional funding, the program’s scope will be broadened beyond distributed solar projects to include onshore wind developments and next-generation Battery Energy Storage Systems (BESS).
