The World Bank approved a massive financing package worth over $700 million to help Turkey upgrade its power grid for renewable energy, with the goal of connecting 1.7 gigawatts of new solar and wind capacity, according to organisation release. The funding includes a €625 million loan plus additional money from the Clean Technology Fund to modernize transmission infrastructure. Turkey wants to hit 120 gigawatts of wind and solar power by 2035 as part of its plan to reach net-zero emissions by 2053.
Turkey’s current power grid can’t handle the massive renewable energy projects the country has planned. The new funding will build high-voltage substations, upgrade transmission lines, and add digital technology to manage electricity from wind and solar farms that produce power when weather conditions are right. This is the seventh phase of a broader renewable energy program across Europe and Central Asia.
“Turkey has set one of the world’s most ambitious renewable energy targets and at the World Bank we are proud of supporting it,” said Country Director Humberto Lopez.
The project aims to reduce Turkey’s dependence on imported fossil fuels while creating skilled jobs in new energy industries. Better transmission infrastructure should also attract private companies to invest in more renewable projects.
The money will fund three main areas: building new substations and transmission lines, adding digital controls to manage variable renewable energy, and providing technical help for Turkey’s first high-voltage direct current power corridors. The state transmission company TEİAŞ will run the project with World Bank technical assistance.
Turkey’s 12th National Energy Plan drives this push toward cleaner electricity as the country tries to boost energy security and economic competitiveness. The project should cut greenhouse gas emissions significantly while creating thousands of jobs across Turkey’s growing renewable energy sector.
