The World Bank has given its nod to accelerate the employment of renewable energy in public facilities in Turkey.
The Public and Municipal Renewable Energy Project worth $549 million will enable Turkey to augment renewable energy employment in the public sector by targeting central government and municipal facilities.
“Renewable energy for public facilities can help mitigate the impact of rising energy prices on municipal energy bills while helping Türkiye deliver on its climate commitments,” stated Humberto Lopez, World Bank Country Director for Turkey. “The project will bring many benefits to the economy and the environment as the building sector is one of the largest energy-consuming and carbon-emitting sectors in the country which has a direct impact on the health of the citizens.”
“Scaling up renewable energy has been at the core of Türkiye’s development policies and will continue to play a critical role in meeting the country’s net zero emission targets,” added Almudena Mateos Merino and Manuel Jose Millan Sanchez, Senior Energy Specialists and Task Team leaders of the project. “Citizens will have an additional benefit from the RE investments by the central government and municipalities as budgetary resources saved from energy bills could be deployed to enhance other priority services for them.”
The project will help address the challenge of the paucity of financial resources and capital for execution of renewable energy projects.