25 November 2011
World Bank Approves Additional Financing for Turkey’s Electricity from Renewables Program
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The World Bank approved a US$500 million loan to provide additional financing to projects that seek to increase privately owned and operated electricity production, from renewable energy sources like hydro, wind, solar biomass and geothermal.

World Bank22 November 2011: The World Bank has approved additional financing for US$500 million to tap Turkey’s significant renewable energy potential from hydro, wind, solar, biomass, geothermal and other resources.

The additional financing complements an initial World Bank loan of US$500 million and Clean Technology Fund financing of US$100 million for the Private Sector Renewable Energy and Energy Efficiency Project, a project that also includes energy efficiency measures to help reduce waste in energy consumption. The main objective of the Project is to boost private energy production from domestic renewable resources within the market-based framework of the Turkish Electricity Market Law, to help improve energy efficiency and curb greenhouse gas emissions. The additional financing will cover costs of scaling up the project. [World Bank Press Release]