World Bank Backs Türkiye Energy Storage and Wind Growth Plan
The World Bank has approved €400 million (US$468.4 million equivalent) in additional financing to expand Türkiye’s distributed renewable energy market, with a focus on wind power and battery storage development.
The funding consists of two €200 million loans from the International Bank for Reconstruction and Development (IBRD), provided to the Development and Investment Bank of Türkiye (TKYB) and the Industrial Development Bank of Türkiye (TSKB), and guaranteed by the Republic of Türkiye.
The investment expands the Accelerating the Market Transition for Distributed Energy Program, which previously supported the country’s low-voltage solar sector. The new phase broadens the scope to include onshore wind projects and commercial-scale battery energy storage systems (BESS).
Türkiye has significantly increased its renewable energy targets, aiming for 120 GW of combined wind and solar capacity by 2035, alongside major expansion in storage infrastructure to support grid integration.
Despite strong growth potential, access to long-term financing for distributed wind and storage projects remains constrained due to maturity mismatches in local banking systems.
The program aims to address these challenges by extending loan maturities through development banks, improving risk assessment capacity, and mobilizing private capital.
“Scaling up battery storage and distributed wind is the next critical step to future-proof Türkiye’s energy grid,” said Humberto Lopez, World Bank Country Director for Türkiye. “By using public development banks to bridge the commercial financing gap, this program enables ready-to-build projects to reach financial close, which will support the competitiveness of Turkish industries, enhance national energy security, and create local jobs across the renewable energy value chain.”
The initiative is expected to enable 1,579 MW of renewable capacity and 392 MWh of battery storage while mobilizing up to US$405 million in private investment.
The program is part of the broader Europe and Central Asia Renewable Energy Scale-up initiative, designed to replicate successful renewable deployment models across the region.
Source: miragenews.com
