The EBRD aims to strengthen its support for Turkey’s efforts to reduce its energy intensity and promote energy efficiency investments with the launch of a Sustainable Energy Action Plan (SEAP) for the country. Faced with increasing industrialisation, urbanisation and greenhouse gas emissions, Turkey’s energy efficiency target is to reduce energy intensity by 20% by 2023 compared to 2008. The action plan outlines key areas for cooperation between the EBRD and Turkey for investments and policy initiatives in renewables and energy efficiency projects in various sectors including power and energy, industry, municipal and environmental infrastructure, transport, and agriculture. The EBRD will cooperate with Turkey with the preparation and adaptation of legislation, the development of financing instruments to support investments in energy efficiency, renewables and carbon finance projects. Additionally, the Bank will provide technical assistance to support the preparation and implementation of such steps. Given Turkey’s strong potential in the field of renewables, the EBRD plans to increase its activities in providing direct financing to such projects. Initiatives are primarily planned in the wind and hydro sectors and can build on the EBRD’s already existing investment in Turkey.
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