News

Sustainable energy tops priorities in EBRD’s strategy

Published

November 9, 2015

Comments

comments icon

0

Share

Published:

November 9, 2015

Comments:

comments icon

0

Share

The Board of Directors of the European Bank for Reconstruction and Development has approved a four-year strategy for Turkey in October, aiming to guide investments through 2018.

Among the five themes, first one on the list is energy efficiency, renewables and support for reforms in the energy sector. Other areas are the inclusion of private sector in infrastructure projects, competitiveness and corporate governance, gender equality and regional and youth inclusion, and the deepening of capital and local currency markets, the bank said on its website.

„We will continue working mainly with the private sector as it is key to ensuring continued growth. Building on a strong six-year history of engagement, the Bank will focus on areas with most reform appetite and market demand and will combine investments with policy advice and support for reforms,” said Jean-Patrick Marquer, EBRD’s country director.

Attracting strategic investors to the renewable energy sector remains challenging, and improvements in institutional capacity and public awareness are also needed to further promote energy and resource efficiency, the document says. „Although Turkey’s primary energy intensity and carbon intensity are only slightly above the EU-28 average, these indicators are still far from global best performance and are likely to worsen in the absence of appropriate policies and sustainable energy investments, and in the context of the government’s plans to develop Turkey’s indigenous lignite power production capacity. In terms of greenhouse gas emissions, Turkey’s emissions rose by 123% since 1990 to about 440 megatonnes of carbon dioxide equivalent in 2012, by far the highest growth among OECD countries,“ the strategy states, with a stress on strong potential of renewable sources.

Limited credit availability for small and medium-sized enterprises, lack of technical expertise and regulatory complexities in financing municipalities present serious barriers to the implementation of resource efficiency measures in residential and corporate sectors, despite significant potential, EBRD said. The bank underscored it will seek to finance renewable energy projects in wind, solar, biogas and geothermal and, on a selected basis, hydro projects, with a particular focus on less developed regions. The strategy includes support for privatization of assets of state-owned utility Elektrik Üretim AŞ (EÜAŞ), particularly hydropower resources.

Sustainable Energy Action Plan had many of its components completed in areas of climate change, power and renewables, and resource efficiency. A National Energy Efficiency Action Plan (NEEAP) was launched, with the aim to develop it along the lines of the European Union’s national plans. Carbon Emission Factor Modelling project was also launched to calculate, model and dissimenate the grid emission factor of Turkey, the bank said. Still under consideration in October was the document for National Appropriate Mitigation Actions, the plans and portfolio of potential projects in the sector of climate change.

 

Related Articles

bih republic of srpska hydropower plants bistrica tunnels petar djokic

Three hydropower plants on Bistrica river to be finished by end-2026

18 April 2025 - Chinese company AVIC is in charge of building the three hydropower plants on the Bistrica, with a total capacity of 39 MW

albania france kesh afd drin hydropower energy storage

Albania’s KESH, France’s AFD sign MoU on hydropower management, energy storage 

18 April 2025 - KESH and Agence Française de Développement have signed an MoU on the Drin cascade management and advanced energy storage planning

bih sarajevo Register of Air Emissions and the Information System of Air Pollutants home fireplaces

Sarajevo rolls out fully digital system to track air-polluting emissions

18 April 2025 - The capital of Bosnia and Herzegovina has developed a register of air-polluting emissions and an information system to track pollutants.

bih federation ephzhb court poklecani urban permit arhaus

Supreme Court of Federation of BiH annulls urban permit for Poklečani wind farm

17 April 2025 - The project is being developed by Elektroprivreda HZHB, one of the three state-owned power utilities in Bosnia and Herzegovina