Financing for Turkish Renewable Energy Projects

IN response to growing demand, the European Bank for Reconstruction and Development (EBRD) is providing $110 million Turkey’s Akbank to finance private companies investing in renewable energy.

It is part of the EBRD strategy to help Turkey meet growing demand for electricity and diversify away from expensive imported fuel, while addressing climate change.

The financing – supported by the Turkish Ministry of Energy and Natural Resources and a €1.9 million grant from the European Union – will benefit renewable energy and resource efficiency projects in Turkey including solar, hydropower, wind, geothermal, waste-to-energy and energy efficiency as well as water saving and waste minimisation projects.

Picture of Bozcaada Wind Farm, Çanakkale Province by © Nevit Dilmen, reproduced under CCL.

Friday 1st July 2016

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