Istanbul: The World Bank has announced its continued support for Trkiye's transition to clean energy through new projects, following a recent $750 million loan agreement aimed at strengthening the country's electricity transmission network. This commitment was reiterated by the World Bank's Country Director, Humberto Lopez, during the 11th Energy Efficiency Forum and Exhibition in Istanbul.

According to Anadolu Agency, Lopez revealed plans for an upcoming meeting with the Turkish Ministry of Energy and Natural Resources to explore potential projects. His comments came after the signing of a $750 million loan agreement between the World Bank and the Turkish Electricity Transmission Corporation (TEIAS) to modernize and fortify Trkiye's electricity transmission infrastructure.

Lopez hinted at the possibility of further collaborations in the energy sector. "On energy, I'm pretty sure there will be something coming," he stated, emphasizing the importance of a robust transmission network for Trkiye's clean-energy ambitions. "Trkiye has one of the most ambitious plans for renewables, and this transition requires transmission," he added.

The initiative, known as the Transforming Power Transmission System Project, represents the first phase of a $1.5 billion financing package. It aims to expand grid capacity, enhance digital management, and accelerate the integration of renewable energy. The project will also include feasibility studies for Trkiye's first high-voltage direct current (HVDC) transmission line.

Lopez highlighted the project's role in improving regional connectivity. "If you want to integrate with other countries, having a good transmission line is going to be critical," he noted. Trkiye's goal to increase solar and wind capacity to 120 gigawatts by 2035 will necessitate an estimated $28 billion in transmission investments, as per government projections.