World Bank approves €400 million renewable energy financing for Turkey

The World Bank approved an additional €400 million (about $468 million) in financing for Turkey to expand its renewable‑energy sector. The funding, split into two IBRD loans of €200 million each, will be channeled through Turkey Development and Investment Bank (TKYB) and Turkey Industrial Development Bank (TSKB).

The expanded Accelerating Distributed Energy Transition programme will now cover not only distributed solar projects but also on‑shore wind farms and new‑generation Battery Energy Storage Systems (BESS). The World Bank estimates the support could add roughly 1,579 MW of renewable capacity and 392 MWh of battery storage, while mobilising up to $405 million of private‑sector finance. The initiative aligns with Turkey’s renewable‑energy roadmap targeting 120 GW of wind and solar capacity by 2035 and responds to the EU’s forthcoming Carbon Border Adjustment Mechanism.

World Bank Turkey Country Director Humberto Lopez highlighted that the long‑term financing model will close commercial financing gaps, accelerate project closures, boost the competitiveness of Turkish industry, enhance national energy security and create local jobs.