World Bank to continue financing new energy projects in Türkiye

ISTANBUL

The World Bank will continue supporting Türkiye's clean energy transition with new projects, following the signing of a recent $750 million loan to strengthen the country's electricity transmission network, the bank's Country Director Humberto Lopez said.

Lopez told Anadolu on the sidelines of the 11th Energy Efficiency Forum and Exhibition in Istanbul that they will hold a meeting with the Turkish Ministry of Energy and Natural Resources in the coming weeks to discuss potential projects.

His remarks came after the World Bank and the Turkish Electricity Transmission Corporation (TEIAS) signed a $750 million loan agreement on Monday to modernize and strengthen the country's electricity transmission network.

Asked whether more deals could follow, Lopez hinted at fresh cooperation ahead. "On energy, I'm pretty sure there will be something coming," he said. "We'll be meeting with the Ministry of Energy over the coming weeks to decide what are the next operations on which we will be focusing."

"We are talking about a number of possibilities at this point," he added.

Lopez said Türkiye's clean-energy ambitions hinge on strong transmission infrastructure. "Türkiye has one of the most ambitious plans for renewables, and this transition requires transmission," he said.

"It's very difficult for a new company to come and install solar or wind if they don't have the guarantee that there is going to be a transmission line," he explained. "What this $750 million operation is trying to do is advance in this direction and therefore is part of the core of what the government's energy transition plan is."

Strong transmission lines key to clean energy and regional integration

Lopez stressed the scope of Türkiye's clean energy ambitions, saying, "Türkiye and the World Bank are implementing one of the most ambitious renewable energy plans in the world."

The project, known as the Transforming Power Transmission System Project, marks the first phase of a $1.5 billion financing package aimed at expanding grid capacity, improving digital management, and accelerating renewable energy integration.

It will also include feasibility studies for Türkiye's first high-voltage direct current (HVDC) transmission line.

"We are starting now. We expect that this operation will be fully completed in four or five years," he said.

"In the meantime, we will be preparing with the (Turkish) Ministry of Energy a number of operations that should complement this one," he said. "We are talking about a plan that for the public sector is going to be more than $20 billion and clearly this will be in a number of phases."

He also emphasized the project's potential to improve regional connectivity. "If you want to integrate with other countries, having a good transmission line is going to be critical," Lopez said.

"What we are now discussing is how you can have new lines that cover high voltage. This is the most advanced thing you have to have interconnection with other countries, and this is going to be part of it," he noted.

Türkiye aims to increase its solar and wind capacity to 120 gigawatts by 2035, an effort that will require an estimated $28 billion in transmission investments, according to government projections.