Turkey has reached a preliminary agreement with the World Bank to begin work on a financing package worth up to $6 billion to support major upgrades to the country’s electricity transmission network, Energy and Natural Resources Minister Alparslan Bayraktar announced on Monday.
Turkey has set ambitious targets of quadrupling its wind and solar generation capacity to 120 gigawatts over the next decade and building two additional nuclear power plants, a plan that will require major expansions to the country’s electricity transmission grid.
Bayraktar said on X that he met with Antonella Bassani, the World Bank’s vice president for Europe and Central Asia, and that both sides agreed to launch talks on the package, which will be used for high-voltage transmission investments needed to expand Turkey’s renewable energy capacity.
Dünya Bankası Avrupa ve Orta Asya Bölgesi Başkan Yardımcısı Sayın Antonella Bassani ile ilk etapta 6 milyar doları bulan bir finansman paketi için çalışmalara başlanması konusunda mutabık kaldık.
⁰Söz konusu finansman, rüzgâr ve güneş kurulu gücünde 2035 yılı için belirlediğimiz… pic.twitter.com/JxJ9Zc4tA2— Alparslan Bayraktar (@aBayraktar1) November 24, 2025
According to the minister, the funds will play a critical role in helping Turkey reach its target of 120,000 megawatts of installed wind and solar capacity by 2035, a goal that requires major upgrades to the national grid to handle increased renewable generation.
Bayraktar said the meeting also included discussions on broader cooperation in areas such as renewable energy, nuclear development and natural gas.
The World Bank has been a key partner in Turkey’s energy transition, including previous financing for grid modernization and renewable projects. The new package, if finalized, would be among the largest energy-sector loans extended to Turkey in recent years.
In August the World Bank approved $748 million in financing for Turkey’s energy transmission system transformation, bringing total international financing secured this year to approximately $7 billion, according to the Treasury and Finance Ministry.