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EBRD hails Turkey’s $11bn push for energy efficiency

CTBR Staff Writer Published 12 January 2018

The European Bank for Reconstruction and Development (EBRD) said that it welcomes Turkey’s plan to implement energy efficiency measures aimed at reducing its primary energy consumption by 14% by the year 2023.

The Turkish government has pledged to put in about $11bn to implement the National Energy Efficiency Action Plan (NEEAP), which will be funded by the European Union.

Turkey, being a rapidly growing economy, is bound to see increased consumption in energy, said EBRD. The country is currently able to cater to about 26% of its total energy demand from domestic resources.

Turkey is heavily dependent on imports for more than 90% of its oil and gas needs leading to external imbalances. As a result, boosting energy efficiency is a very important thing for the country.

In this regard, NEEAP is expected to tackle the impending challenge through various measures with a plan to combine the general energy efficiency framework and cross-cutting sectorial measures.

Steps included in NEEAP are extended use of renewable energy and district heating in buildings and promoting the use of combined heat and power in the industry sector.

EBRD Turkey managing director Arvid Tuerkner said: “This is a major step towards making a rapidly expanding economy also much more energy efficient. The plan builds on the realisation that a sustainable, efficient and prudent generation and consumption of energy is crucial for both economic growth and a sound environment.

“The action plan addresses the need to balance both aspects with detailed measures and where possible and feasible the EBRD stands ready to support this crucial effort.”

Turkey is also looking to develop nearly a third of its total installed capacity from renewable sources by 2023. The country plans to add 34GW of hydropower, 20GW of wind energy, 5GW of solar energy, 1.5GW of geothermal and 1GW of biomass, said EBRD.

Image: Turkey plans to add 5GW of solar energy apart from other renewable capacity by 2023. Photo: courtesy of European Bank for Reconstruction and Development.