Turkey secures €400 million World Bank financing for renewables, cites strategic EU energy role

Finance Minister Mehmet Şimşek announced that the World Bank will provide €400 million in long‑term, concessional financing to support Turkey’s renewable‑energy projects, including wind power and energy‑storage investments. He emphasized that over the past 23 years the country has spent about $1.1 trillion on energy imports and that accelerating the shift to domestic and renewable sources is essential for resilience.

Energy Minister Demir Can, speaking at a high‑level forum in Brussels, highlighted Turkey’s strategic position as an energy‑diversification hub for the European Union. He described ongoing interconnection projects with Azerbaijan, Georgia, Bulgaria and others, noting a 500 MW electricity link with Bulgaria and plans to expand capacity to transmit surplus renewable electricity to European markets. The minister said stronger cross‑border links would enhance energy security, sustainability and economic benefits for the region.