Turkey's Energy Leap: $6 Billion World Bank Talks

Turkey has initiated discussions with the World Bank for up to $6 billion in funding to enhance its electricity transmission system. This initiative supports Turkey's drive to increase wind and solar power capacity to 120 GW over the next decade and includes plans for new nuclear plants.

Turkey has entered negotiations with the World Bank seeking up to $6 billion in financing intended to enhance the nation's electricity transmission network, Energy Minister Alparslan Bayraktar announced on Monday. The funds are aimed at supporting Turkey's ambitious plan to quadruple wind and solar power capacity to 120 GW within ten years and to construct two additional nuclear power plants.

According to Bayraktar, the proposed financing will focus on investments in high voltage DC transmission lines. The expansive upgrades to Turkey's electricity transmission and distribution systems will involve the creation of a high voltage direct current (HVDC) transmission system spanning thousands of kilometers, which carries an estimated cost of $28 billion.

(With inputs from agencies.)