Tuesday, August 23, 2016

Turkey: World Bank Announces Procurement for Geothermal Energy Project Funding

Turkey seeks $290 Million funding for geothermal projects (Anadolu Agency)

(Courtesy CIA.gov)
The Government of Turkey has applied for up to $290 million in funding for its geothermal energy projects, according to a World Bank announcement Tuesday.

The World Bank has published a procurement notice for the bank's Turkey Geothermal Development Project, of which the primary objective is to scale up private sector investment in geothermal energy in Turkey.

The notice read that the funding is required to be used at the early stage of development in geothermal projects and foresees an amount of up to $290 million in support.

The Turkish government has set a target of developing 1,000 megawatts (MW) of geothermal electricity generation capacity by 2023 and has put in place a supportive legal framework to facilitate geothermal development.

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