CIF approved $70 million for energy infrastructure development in Turkey
The Climate Investment Funds (CIF) has approved $70 million in support for developing Turkey’s energy infrastructure, aiming to enhance the use of renewable energy sources. These funds are allocated through the CIF Renewable Energy Integration (REI) platform and are expected to mobilize over $1 billion in additional investments from development banks, and the public and private sectors, by 2035.
Transforming Turkey’s Transmission Network
The CIF funding will enable Turkey to implement a $790 million project focused on expanding and upgrading its transmission network. An additional $330 million will be allocated to increase the flexibility of the energy system, including the installation of 7.5 GW of energy storage capacity. This will prepare the Turkish grid to integrate an additional 60 GW of solar and wind power, essential for the country’s renewable energy growth plans.
Ambitious Renewable Energy Goals
Turkey plans to quadruple its solar capacity, from 14 GW to nearly 53 GW, and more than double its wind capacity, from the current 12 GW to 29.6 GW by 2035. These measures align with the nation’s long-term goal of achieving carbon neutrality by 2053.
Tariye Gbadegesin, CEO of the Climate Investment Funds, highlighted Turkey’s significant potential for solar and wind energy, emphasizing that this support will help the country prepare its grid for rapid renewable energy expansion while increasing system flexibility.
Challenges in Turkey’s Energy Mix
Despite progress in renewable energy development, coal remains dominant in Turkey’s energy mix, accounting for 36% of electricity generation by the end of 2023. In 2022, Turkey became the second-largest coal consumer in Europe, surpassing Poland. However, analysts note that the expansion of solar and wind power could significantly reduce reliance on imported coal. Building a flexible energy storage system is also a key priority, enabling better management of renewable energy production.
Source: renewablesnow.com