Türkiye’s clean energy plan gets $1bn backing

FCHAIN Türkiye office informs:

A $1 billion investment backed by the Climate Investment Funds (CIF) is set to accelerate Türkiye’s green energy transition. The funding aims to transform the country’s power transmission system and enhance its energy grid with smart technologies. Specifically, $790 million will be used to modernize Türkiye’s transmission system and upgrade its smart-grid infrastructure. Additionally, $330 million will go toward increasing system flexibility through innovations like decentralized electric vehicle charging stations, grid digitalization, and a 7,500 MW boost in battery energy storage capacity.

These upgrades will allow Türkiye to integrate 60 GW of additional wind and solar power by 2035, significantly increasing the country’s renewable energy capacity. Solar capacity will increase from 14 GW to 53 GW, while wind capacity will more than double, from 12 GW to 29.6 GW.

The initiative is part of Türkiye’s ambitious renewable energy expansion plan, supported by the European Bank for Reconstruction & Development (EBRD) and the World Bank Group. With co-financing expected to exceed 15 times the initial investment, this project will help prepare Türkiye’s grid for the future of clean, intermittent energy sources like wind and solar.

CIF CEO Tariye Gbadegesin highlighted Türkiye’s vast potential in wind and solar resources and the importance of developing a smart, flexible grid to accommodate such a rapid increase in renewable energy.

The CIF’s Renewable Energy Integration (REI) platform has also endorsed projects in several other countries, including Brazil, Colombia, Costa Rica, Fiji, Kenya, and Mali.