ANKARA
Türkiye and the World Bank are in discussion to finance a $28 billion energy transmission infrastructure project, a cornerstone of Türkiye’s renewable energy transformation plan.
The initiative aligns with Türkiye’s 2035 renewable energy targets, aiming to expand the country’s energy capacity and diversify its resources.
World Bank Country Director for Türkiye Humberto Lopez emphasized the bank’s support for Türkiye’s green energy ambitions.
“You have the capacity and potential to generate significant amounts of onshore wind energy and solar energy in Türkiye,” he said. The discussions are in collaboration with Türkiye’s Energy and Natural Resources Ministry.
The World Bank’s role includes financing and providing expertise to help Türkiye increase its renewable energy installed capacity from 90 gigawatts to 120 gigawatts by 2035.
A detailed report was prepared by the bank to assess the country’s offshore wind energy potential. The report examines opportunities in regions like Marmara and the Black Sea, evaluating wind speeds, water depth and protected areas.
Lopez noted that the roadmap outlines both the economic viability of offshore wind energy and its integration into Türkiye’s broader energy mix.
“When you look at all this, you will have a clear view of the economics of offshore wind energy and how it fits into the energy mix. I agree with the idea of diversifying energy production on land, at sea and everywhere, but the amount you put in one area or another will depend on all these factors,” Lopez stated.
The project also includes infrastructure improvements to support this energy transformation. The investment needed to increase Türkiye’s wind and solar energy capacity by 2035 is estimated at $80 billion, while the energy transmission infrastructure requires an additional $28 billion.
The initial phase, set to begin next year, involves $750 million in funding to facilitate the energy transition. Lopez highlighted the long-term commitment, noting that a second project of similar value is planned in the coming years to further bolster transmission infrastructure.
