ANKARA, May 16, 2024—The Government of Türkiye, the World Bank, and Turkish development banks, signed today an agreement for a $1billion program on ''Accelerating the Market Transition for Distributed Energy''. This innovative program will help establish and expand Türkiye''s market for distributed solar energy and pilot a program for battery storage, in support of the country''s National Energy Plan.
The government aims to significantly scale-up solar energy to 52.9 gigawatts (GW) by 2035 from 9.5GW in 2022. The target for battery storage is 7.5 GW. With these and other clean energy measures, the government is boosting energy security as an integral part of efforts to decarbonize Türkiye''s economy by 2053.
The program is innovative for its use of country systems and for building a platform to diversify private financing. The results-based financing program—the first of its kind in Türkiye—will disburse World Bank funds as pre-agreed results are reached and independently verified.
"Türkiye has recently committed to one of the most ambitious programs on energy transition seen in emerging market countries. The World Bank welcomes the commitment to double renewable energy by 2035 and is delighted to accompany the country in its efforts to achieve energy security, lower energy costs for consumers, and fight climate change with projects like the one we have just signed today," said Humberto Lopez, World Bank Country Director for Türkiye.
The World Bank financing comprises loans of about EUR 600 million (about $657 million) from the International Bank of Reconstruction and Development (IBRD) and $30 million from the Climate Investment Funds'' Clean Technology Fund (CTF), and $3 million grant funding from the World Bank''s Energy Sector Management Assistance Program (ESMAP). The program is expected to mobilize $259 million of privatecapital.
Manuel Berlengiero, the World Bank Lead Energy Specialist for the program stated: "In addition to meeting the rising demand for electricity, the program will accelerate the next phase of market development, establishing a foundation for the evolution to a mature market for distributed solar energy and storage solutions, capable of attracting private investment and ultimately functioning with reduced public or concessional support."
The program is the inaugural component of the World Bank''s Europe and Central Asia Renewable Energy Scale-up (ECARES) Program. This $2 billion, 10-year program will support the development of 15 GW of renewable energy capacity across the region by creating and developing new markets. ECARES will provide a mechanism to share knowledge and replicate success across countries, while allowing them to choose from a wide range of tools and financing solutions. Investing in renewable energy is part of the World Bank''s vision to create a world free of poverty on a livable planet.
Equipment: Induction melting system, furnaces (open and atmosphere controlled), ball mills, hydrothermal reactors, microwave reactors, ultrasonicators, centrifuge, freeze dryer, ovens and filtration systems
The approach taken by Turkey''s government and regulatory authorities to adapt energy market rules will create "exciting" opportunities for energy storage and renewables.
According to Can Tokcan, a managing partner at Inovat, a Turkey-headquartered energy storage EPC and solutions manufacturer, new legislation is expected to be adopted soon that will drive a major uptick in energy storage capacity.
Back in March, Energy-Storage.news heard from Tokcan that the energy storage market in Turkey was "fully open". That came after the country''s Energy Market Regulatory Authority (EMRA) ruled in 2021 that energy companies should be permitted to develop energy storage facilities, whether standalone, paired with grid-tied energy generation or for integration with energy consumption – such as at large industrial facilities.
Now, energy laws are being adapted further to accommodate energy storage applications that enable the management and addition of new renewable energy capacity, while mitigating grid capacity constraints.
Energy storage is needed to smooth the generation profile of variable solar PV and wind generation, "otherwise, it''s always natural gas or coal fired power plants that are actually accommodating for these fluctuations between supply and demand".
Developers, investors, or power producers will be able to deploy additional renewable energy capacity, if energy storage with the same nameplate output as the renewable energy facility''s capacity in megawatts is installed.
"As an example, if say you have a storage facility of 10MW electrical on the AC side and you guarantee that you will be installing 10MW of storage, they will be increasing your capacity to 20MW. So, an additional 10MW will be added without any sort of competition for the license," Tokcan said.
Where those previous legislative changes opened up the Turkish market, the newest changes will likely lead to significant development of new renewable energy projects in 2023, Tokcan''s company Inovat believes.
Instead of the government needing to invest in infrastructure to accommodate that additional capacity, it is giving that role to private companies in the form of energy storage deployments that can prevent transformers on the electrical grid from becoming overloaded.
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