17:43 - 17.06.2026

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June 17, Fineko/abc.az. The World Bank has approved an additional financing package of €400 million ($468.4 million) to expand the renewable energy market in Turkey, support wind power and Commercial Energy Storage Systems (BESS).

ABC.AZ reports that the finances will be provided under Turkish state guarantees in the form of two loans from the IBRD of €200 million each for TKYB and TSKB banks.

Payments will be made in stages, as soon as the targets are independently confirmed.

The program is expected to provide an increase in renewable energy capacity by 1,579 MW, support 392 MWh battery capacity, and attract up to $405 million in private capital.

This step is critically important for the Turkish industry against the background of the EU's launch of the Carbon Boundary Adjustment Mechanism (CBAM) in 2026.