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The World Bank has approved 400 million euros (nearly $464 million) in additional financing to help expand Türkiye's renewable energy market, focusing on wind power and utility-scale battery energy storage projects. The financing expands the Accelerating the Market Transition for Distributed Energy Program, building on the success of its first phase, approved in 2024, which helped accelerate the deployment of low-voltage distributed solar energy systems across the country. The new package consists of two 200 million euros International Bank for Reconstruction and Development (IBRD) loans provided to the Development and Investment Bank of Türkiye (TKYB) and the Industrial Development Bank of Türkiye (TSKB) under a results-based financing framework, in which disbursements are tied to independently verified performance targets. With the additional funding, the program's scope will be broadened beyond distributed solar projects to include onshore wind developments and next-generation Battery Energy Storage Systems (BESS). Türkiye aims to reach 120 gigawatts of combined wind and solar capacity by 2035, alongside a significant expansion of battery storage capacity. However, access to long-term financing for distributed wind and storage projects remains limited, partly due to local banks' short-term funding structures, the World Bank said on Monday. The program aims to address these financing...