{"post_title": "World Bank Approves EUR 400 Million for Turkiye Renewable Energy Expansion Across Wind and Battery Storage", "post_content": "
The World Bank has approved EUR 400 million (US$468.4 million) in additional financing to expand Turkiye's distributed renewable energy market, extending support to onshore wind projects and commercial-scale battery storage systems for the first time under the program.
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The financing, approved on June 15, consists of two EUR 200 million loans from the International Bank for Reconstruction and Development (IBRD) to the Development and Investment Bank of Turkiye (TKYB) and the Industrial Development Bank of Turkiye (TSKB), backed by guarantees from the Republic of Turkiye. The funds will be disbursed on a results-based basis, with payments released after independently verified milestones are met.
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The expanded program builds on an initial phase approved in 2024 that focused on low-voltage distributed solar power. The new phase broadens the scope to include onshore wind generation and Battery Energy Storage Systems (BESS), reflecting Turkiye's push to diversify its renewable energy portfolio and strengthen grid stability.
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Turkiye has set an ambitious target under its latest Renewable Energy Roadmap to reach 120 gigawatts (GW) of combined wind and solar capacity by 2035, alongside a significant expansion in battery storage capacity. The country currently has approximately 65 GW of installed renewable energy capacity, including large hydropower, according to World Bank data.
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The World Bank said the expanded program is expected to enable 1,579 megawatts (MW) of new renewable energy capacity, up from the 963 MW targeted in the initial phase, and support 392 megawatt-hours (MWh) of battery storage capacity. It also projects the initiative will mobilise an estimated US$405 million in private capital.
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The additional financing falls under the broader Europe and Central Asia Renewable Energy Scale-Up (ECARES) Program, a regional initiative with a proposed envelope of $2.96 billion, which aims to increase renewable energy capacity across participating countries. The World Bank plans to use Turkiye's experience as a model for other countries in the region through its Europe and Central Asia Energy Knowledge Network, which connects energy sector professionals from 21 countries.
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Turkish commercial banks remain constrained by short-term liability profiles, limiting their ability to fund long-term, capital-intensive renewable energy projects. The World Bank said the programme addresses this gap by channelling long-term financing through development banks, building market expertise for new grid technologies, and catalysing private investment.
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Turkiye's industrial sector is also facing pressure from the European Union's Carbon Border Adjustment Mechanism (CBAM), which took effect in 2026, creating additional demand for verified renewable energy sources among commercial and industrial buyers seeking to manage carbon costs.
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Sources: worldbank.org
", "post_status": "publish", "post_category": [188]}
