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Add to Preferred SourcesThe World Bank’s Board of Executive Directors approved additional financing of EUR 289.5 million ($ 325 million equivalent) to the Turkish Electricity Transmission Company (TEİAŞ) for the Renewable Energy Integration Project (REIP).
The original project with a EUR 217.6 million IBRD loan and a $ 50 million Clean Technology Fund (CTF) loan was approved on May 9, 2014.
The REIP is assisting in the development and strengthening of transmission infrastructure to support integration of wind power plants to the electricity transmission grid, implementation of smart-grid investments to improve operations and management, and installation of submarine power cables to interconnect wind energy locations with other parts of Turkey.
This financing will assist Turkey in meeting its increased power demand by strengthening the transmission system and facilitating integration of large-scale renewable energy generation. Greater integration of renewable energy-based sources in Turkey will also help the country avoid Green House Gas (GHG) emissions that come from fossil fuel-based power.
“This project is part of the World Bank’s commitment to support Turkey’s Energy Transition Agenda,” said Auguste Kouame, World Bank Country Director for Turkey. “This project will contribute to greater use of renewable energy through the implementation of critical investments to integrate renewable energy into the electricity grid. This, in turn, will support Turkey’s climate action agenda.”
The Project consists of the following four components:
- Development of Transmission Infrastructure
- Smart-grid Investments
- Submarine Power Cables
- Strengthening of Transmission Networks
The project contributes to the Turkey Country Partnership Framework (CPF) for the FY18-21 period by supporting the objective to improve the reliability of energy supply and generation of green energy. It is also expected to improve energy security through the development of domestic R renewable energy resources and strengthen the cross-border capability to neighboring European countries through network enforcement.
Original source: World Bank
Published on 28 February 2020