Unlicensed wind and energy storage projects may be eligible for World Bank financing

The World Bank announced that it has approved an additional 400 million euros (equivalent to 468.4 million U.S. dollars) in financing for renewable energy and energy storage investments in Türkiye through the International Bank for Reconstruction and Development (IBRD).

The Bank’s announcement stated that the funding will be provided under the “Accelerating the Transition to Distributed Energy Program,” and noted that the program’s new phase has been expanded to include distributed onshore wind energy projects and investments in next-generation Battery Energy Storage Systems (BESS).

The funds, provided under the guarantee of the Republic of Türkiye, will be disbursed in equal shares by the Turkish Development and Investment Bank A.Ş. and the Turkish Industrial Development Bank A.Ş.

It is projected that the funds provided will enable the commissioning of 1,579 megawatts (MW) of renewable energy capacity and a 392 megawatt-hour (MWh) battery storage investment, while also mobilizing up to 405 million U.S. dollars in private-sector financing.