Development and Investment Bank of Türkiye Supports USD 1 Billion Distributed Solar Energy and Battery Energy Storage Systems Investment Programme

Through the loan agreements signed by TKYB with the World Bank and CTF under a repayment guarantee from the Republic of Türkiye Ministry of Treasury and Finance, the programme aims to provide long-term financing for distributed solar energy and battery energy storage system investments intended for businesses’ self-consumption in Türkiye. Under the agreements, eligible projects will be financed both directly by TKYB and through other financial intermediary institutions selected by TKYB. The project also aims to strengthen the capacity of financial intermediary institutions through a USD 1.5 million grant agreement signed with the World Bank’s Energy Sector Management Assistance Program (ESMAP). In line with Türkiye’s National Energy Plan, the programme is intended to contribute directly to reaching the target of 52.9 GW of installed solar energy capacity by 2035.

The agreement signed with the World Bank is the first operation concluded under the World Bank’s Europe and Central Asia Renewable Energy Scale-up (ECARES) initiative.

Expressing his satisfaction at entering into significant cooperation on behalf of Türkiye through the project, TKYB CEO İbrahim Öztop said: “These loan and grant agreements represent an important step towards implementing Türkiye’s plans to expand renewable energy capacity. The long-term financing to be provided for both distributed solar energy projects and battery energy storage systems will accelerate Türkiye’s achievement of the targets in its national energy plan. Through international cooperation, we continue to fulfil our commitments to a sustainable future.”

World Bank Country Director for Türkiye J. Humberto Lopez said: “Türkiye has recently committed to one of the most ambitious energy-transition programmes among emerging economies. As the World Bank, we welcome Türkiye’s commitment to doubling renewable energy by 2035 and are pleased to stand by Türkiye in projects—such as the one signed today—that ensure energy security, reduce energy costs for consumers and combat climate change.”

Kerem Dönmez, Director General of Foreign Economic Relations at the Republic of Türkiye Ministry of Treasury and Finance, said: “Under the 12th Development Plan, increasing energy self-sufficiency by utilising domestic and renewable energy resources in line with our 2053 net-zero emissions target is among our priorities. In this context, we continue to establish strong cooperation with the World Bank and our other development partners to expand renewable and clean energy resources and improve energy efficiency in our country. Through the Türkiye Accelerating the Market Transition for Distributed Energy Project, which will be implemented by TKYB and TSKB using World Bank financing, we will support private-sector investments in photovoltaic solar energy and battery energy storage systems. I believe the project will contribute to achieving the 2053 net-zero emissions target.”