TurkeyIn $350Mn WB Power Loans

Turkish state transmission firm TEIAS has secured $350mn of World Bank loans to incorporate renewables into its national grid. $300mn will come from the IBRD and $50mn from the Clean Technology Fund (CTF).

Funding will go towards:

• Expanding transmission infrastructure to facilitate faster development of wind power plants in Izmir, Canakkale and Kirklareli provinces;

• Smart-grids to strengthen grid operation and management;

• Installing a second 380kV Lapseki-Sutluce submarine cable across the Dardanelles Strait, with 2GW transmission capacity, to strengthen the loop network around the Marmara Sea via the Bosporus; and

• Installing a 380kV Ambari-Yenibosna underground cable.

World Bank country director Martin Raiser says “Turkey has considerable renewable energy potential. However, substantial public and private investment is needed to fully exploit this resource. We have supported Turkey’s energy sector reforms for over a decade, with the objective of making Turkey’s energy sector cleaner, more secure and less dependent on imports.” (CONTINUED - 257 WORDS)