The European Bank for Reconstruction and Development (EBRD) has joined the Türkiye Renewable Energy Acceleration and Clean Transition Platform (REACT), committing to invest US$ 6 billion in REACT projects over the next five years, according to a press release issued on 11 November 2026. The platform was launched at a dedicated event during COP31 and aims to mobilize US$ 300 billion for Türkiye’s energy transition by 2040. The EBRD worked closely with the Ministry of Energy and Natural Resources to support the platform’s establishment.
REACT is also supported by the European Union, the World Bank and the International Finance Corporation, as well as the Glasgow Financial Alliance for Net Zero (GFANZ), the International Bank for Reconstruction and Development (IBRD), the Climate Investment Funds (CIF), Kreditanstalt für Wiederaufbau (KfW), the Powering Past Coal Alliance (PPCA), the Royal Danish Embassy, and the United Nations Industrial Development Organization (UNIDO). It is designed as a coordination and investment-mobilization framework bringing together public institutions, development partners, financial institutions, investors, the private sector and other stakeholders around a shared implementation agenda.
The platform aims to facilitate the mobilization of US$ 300 billion in investment across the renewable energy value chain by 2040, including generation, grid infrastructure, energy storage, flexibility solutions, manufacturing and electrification, in line with the COP31 35-by-35 Global Electrification Pledge. Ahead of COP31, Türkiye announced more ambitious targets for its energy vision, aiming to reach 175 GW of installed solar and wind capacity by 2040. Achieving this will require coordinated action across renewable generation, grids, storage, policy reform, project development, financing and domestic supply chains.
Odile Renaud-Basso, EBRD President, said: “The EBRD has a substantial footprint in Türkiye’s energy sector, and we stand ready to build on this experience by mobilising investment and deploying our expertise to support the country’s energy transition. Türkiye has set ambitious targets for its energy transition, and we welcome the determination it is showing to translate this ambition into investment and action.”
She added that the Bank is proud to become one of the platform’s initial signatories, building on its close collaboration with Turkish partners. Renaud-Basso also referenced the EBRD’s commitment to Türkiye’s TIDIP in supporting the country’s path toward a more resilient and competitive economy.
The platform will support the system-wide transformation of Türkiye’s energy sector by accelerating renewable energy deployment, enabling integration at scale, advancing electrification and mobilizing finance for priority investments. The EBRD is one of Türkiye’s largest institutional investors, having invested more than €26 billion in the country, largely in the private sector. The Bank’s new commitment reinforces its role in supporting secure, affordable and sustainable energy for Türkiye.