Islamic Development Bank to provide financing for Turkish energy sector



October 11, 2016






October 11, 2016





Being a key development sector for the bank, energy projects in Turkey will receive “significant financial support over the next 10 years” from Islamic Development Bank (IDB), said Salah Jelassi, IDB`s Turkey director in an interview for the Anadolu Agency – Energy News Terminal.

“In recent years IDB provided USD 540 million for energy projects in the private sector, supporting investments worth more than USD 2 billion. Most of these investments were in the renewable energy sector and the rest were for improving energy efficiency in industrial facilities”, he added.

As a result of these investments, Jelassi explained that around 600 MW of new power plants have been put into operation. Expecting further demands in renewable energy and energy efficiency in Turkey, as well as energy generation, supply, storage, and electricity and gas systems, IDB will develop “more innovative financing paradigm”.

“The bank will continue to support new solar and wind energy investments in Turkey, either through public institutions or through local financial intermediaries or even directly”, Jelassi said.

Jelassi underlined the importance of equipment and technologies used in renewable energy power plants.

“It is very important for Turkey to gain the ability for wide-scale manufacturing of electromechanical equipment to be used in solar and wind power plants which will also help Turkey improve its macroeconomic indicators as well as provide sustainability advantages”, pointed out Jelassi for Anadolu Agency.

Related Articles

Greece launch first guarantees origin auction early January

Greece to launch first guarantees of origin auction in early January

30 November 2023 - The first guarantees of origin of electricity in Greece are reportedly planned to be auctioned in the first half of January

vulcan lithium Landau Zero Carbon Lithium Project

Vulcan opens Europe’s first fully domestic lithium production plant in Germany

30 November 2023 - Lithium extraction from salt water has a much lower environmental impact than projects at salt deserts and mines


Montenegro on track to add 4 GW of solar and wind, seeks EU support for green steel roll-out

29 November 2023 - Montenegro's strategic goals include renewable energy, smart electricity metering, but also green steel production

eu action plan grids european commission

Industry welcomes EU’s grid action plan but criticizes lack of some crucial measures

29 November 2023 - The European Commission has presented a 14-point action plan for seven challenges to improving electricity grids