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Sustainable energy tops priorities in EBRD’s strategy

Published

November 9, 2015

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Published:

November 9, 2015

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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.

 

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