Turkey's TEIAS gets $350 mln World Bank loan for renewable energy project

ISTANBUL (Turkey), July 10 (SeeNews) – Turkey’s Treasury said on Thursday the country’s state-controlled electricity transmission company TEIAS has obtained $350 million (257 million euro) in financing by the World Bank for the implementation of a renewable energy integration project.

The financing consists of a 217.6 million euro loan from the International Bank for Reconstruction and Development (IBRD) and a $50 million loan from the Clean Technology Fund (CTF), both guaranteed by the Treasury, it said in a statement.

The project aims to extend and strengthen the electricity transmission network, integrate the wind power investments to the transmission network and support the European Network of Transmission System Operators for Electricity (ENTSO-E), said the Treasury.

($ = 0.735 euro)

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