
The European Bank for Reconstruction and Development announced its 5-year investment plan by joining the REACT platform within the scope of Türkiye's 2040 energy transformation targets.
AI-generated summary
The REACT platform was established to support Türkiye's vision of reaching 175 gigawatts of solar and wind energy capacity by 2040.
The European Bank for Reconstruction and Development (EBRD) announced that it plans to join the Turkey Renewable Energy Acceleration and Clean Energy Transition Platform (REACT) and invest 6 billion dollars in projects within the scope of the platform in the next 5 years.
In the statement made by the bank, it was stated that EBRD was one of the first signatories of the REACT platform, which was launched with a special event held within the scope of the 31st Conference of the Parties to the UN Framework Convention on Climate Change (COP31) held in Antalya.
In the statement, it was noted that EBRD, which worked in close cooperation with the Ministry of Energy and Natural Resources during the establishment process, played an active role in shaping the platform.
It was stated in the statement that the platform, which aims to mobilize an investment of 300 billion dollars by 2040 for Türkiye's energy transformation, covers the entire renewable energy value chain, including production, grid infrastructure, energy storage, flexibility solutions, manufacturing and electrification, in line with COP31's "35 percent Global Electrification Commitment by 35", and that the EBRD plans to invest 6 billion dollars in projects within this scope in Türkiye in the next 5 years.
In the statement, it was stated that the REACT platform was supported by the EBRD, as well as the European Union (EU), the World Bank, the International Finance Corporation (IFC), the Glasgow Financial Alliance for Net Zero (GFANZ), the International Bank for Reconstruction and Development (IBRD), the Climate Investment Funds (CIF), the German Development Bank (KfW), the Post-Coal Energy Alliance (PPCA), the Royal Danish Embassy and the United Nations Industrial Development Organization (UNIDO).
It was stated that REACT, which brings together public institutions, development partners, financial institutions, investors and the private sector around a common implementation agenda, will support Türkiye's vision of reaching 175 gigawatts of installed solar and wind energy capacity by 2040.
EBRD President Odile Renaud-Basso, whose views were included in the statement, stated that the bank has a strong presence in Türkiye's energy sector and said, "We are ready to support the country's energy transformation by mobilizing investments and putting our expertise into play. Turkey has set ambitious targets in this field, and we welcome its determination to turn these targets into investment and action." he said.
Drawing attention to the close cooperation established with Turkish partners, Renaud-Basso said:
"We are proud to be one of the founding signatories of this platform. Drawing strength from our experience and commitments within the Turkish Industrial Decarbonization Investment Platform (TIDIP), we will continue to support the country on its path to a more resilient and competitive economy supported by safe, affordable and sustainable energy."
The statement also emphasized that EBRD, which has invested more than 26 billion euros in Türkiye to date, the majority of which is in the private sector, is among the country's largest institutional investors.
AI outlook — possibilities, not facts
EBRD starts the investment process of 6 billion dollars in 5 years.
Very likely · Within years

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