Turkish utility pockets $325m World Bank fund for renewables integration

0
views

In Turkey, the Electricity Transmission Company has secured €289.5 million ($325 million) in funding from the World Bank to implement its Renewable Energy Integration Project (REIP).

The funding includes a €217.6 million ($242 million) International Bank for Reconstruction and Development loan and a $50 million Clean Technology Fund to strengthen energy transmission infrastructure.

The aim is to integrate wind energy with the main grid and install smart grid technologies to optimise grid operations and management.

The project will include the installation of submarine power cables to interconnect wind energy locations with other parts of Turkey.

Turkey will leverage the funding to meet growing energy demand and carbon emissions reduction targets.

”Turkey’s GHG emissions rose by 140.1% in the period 1990-2017, reaching 526.3 million tons (Mt) of CO2 equivalent, of which 72.2% was energy related. Through this project Turkey will contribute to the reduction/avoidance of GHG emissions stemming from electricity generation based on solid fossil-fuels, mainly lignite,” remarked Yeşim Akcollu, task team leader of the project.

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.

For more information about the project, click here

Previous articleUK subsidy policy turnaround brings onshore wind out of the cold
Next articleEIB and UN expand cooperation on climate action
Nicholas Nhede
Nicholas Nhede is an experienced energy sector writer based in Clarion Event's Cape Town office. He has been writing for Smart Energy International’s print and online media platforms since 2015, on topics including metering, smart grids, renewable energy, the Internet of Things, distributed energy resources and smart cities. Originally from Zimbabwe, Nicholas holds a diploma in Journalism and Communication Studies. Nicholas has a passion for how technology can be used to accelerate the energy transition and combat climate change.