Renewables

Islamic Development Bank to provide financing for Turkish energy sector

Photo: http://aaenergyterminal.com/

Published

October 11, 2016

Country

Comments

comments icon

0

Share

Published:

October 11, 2016

Country:

Comments:

comments icon

0

Share

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

HELLENiQ Energy buys ABO Energy Hellas 1 5 GW renewables

HELLENiQ Energy buys ABO Energy Hellas, adding 1.5 GW in renewables projects

02 July 2025 - Amid a consolidation in the renewables sector in Greece, HELLENiQ Energysaid it completed the acquisition of ABO Energy Hellas

EU outlines measures for 90 emissions cut by 2040

EU outlines measures for 90% emissions cut by 2040

02 July 2025 - A proposed amendment to the European Climate Law sets a 2040 target of a 90% reduction in net greenhouse gas emissions

battery storage eu solarpower europe bess

SolarPower Europe: EU needs ten times more battery storage by 2030 to meet renewables targets

02 July 2025 - SolarPower Europe has launched an initiative called the Battery Storage Europe Platform to promote battery growth across the EU.

Solaris Holding large hybrid renewable energy park Bulgaria

Solaris Holding launches production at large hybrid renewable energy park in Bulgaria

02 July 2025 - The new Selanovtsi solar farm of 59.8 MW in peak capacity near Vratsa was installed alongside a battery energy storage system of 107.3 MWh in capacity