The agreement was announced by Energy and Natural Resources Minister Alpaslan Bayraktar. In a social media post, the Minister stated that the preliminary agreement was reached during his meeting with Antonella Bassani, Vice President of the World Bank for Europe and Central Asia.
The financing package will support high-voltage investments essential to achieving the national target of 120,000 MW of installed wind and solar capacity by 2035. Strengthening the grid is considered critical, as Turkey plans a significant increase in renewable energy production and requires modernization of transmission infrastructure to integrate it smoothly into the system.
According to the Minister, the meeting also explored broader cooperation opportunities in the fields of renewable energy, nuclear power, and natural gas, confirming the expansion of Ankara’s strategic relationship with the World Bank in the energy sector.
