The funding plan, developed in collaboration with the World Bank Group and the European Bank for Reconstruction and Development (EBRD), is expected to mobilise an additional $1 billion in climate finance.
CIF said its funding will support a $790 million project to transform the national power transmission system by expanding transmission infrastructure, strengthening connections and investing in smart-grid upgrades.
It will also enable a $330 million investment in a suite of technologies to improve system flexibility, including decentralised electric charging stations, digitalisation of the power distribution grid and a 7.5GW increase in battery energy capacity.
These improvements should allow Turkey’s power grid to integrate the additional 60GW of wind and solar by 2035, more than doubling wind capacity from 12.4GW in September 2024 to 29.6GW, and quadrupling solar capacity from 14GW to almost 53GW.
On 26 October, Turkey’s energy and natural resources ministry outlined a new renewable energy roadmap for 2035. This foresees total wind and solar capacity reaching 120GW over the next decade, of which 90GW to be added by 2035. This includes 5GW of offshore wind.
