EBRD to invest U.S. $6 billion in Türkiye REACT energy transition projects
Türkiye is stepping up its clean energy ambitions through a new investment platform launched during COP31 to speed renewable power, grid upgrades and electrification. The European Bank for Reconstruction and Development plans to commit U.S. $6 billion over the next five years as the initiative targets U.S. $300 billion in mobilised investment by 2040.
Highlights
- EBRD will invest U.S. $6 billion over five years in Türkiye REACT projects focused on accelerating the country's energy transition.
- REACT platform targets mobilisation of U.S. $300 billion for Türkiye's renewable energy chain by 2040, supporting generation, grid, storage, and electrification.
- Türkiye has set a 2040 target of 175 GW installed solar and wind capacity, requiring major investment, policy reforms, and coordinated action across sectors.
Platform backing and investment scope
As reported by the EBRD, the lender has joined the Türkiye Renewable Energy Acceleration and Clean Transition Platform, or REACT, as one of its initial signatories and plans to direct U.S. $6 billion to projects under the framework over the next five years.The bank says it helped shape the platform alongside Türkiye’s Ministry of Energy and Natural Resources. REACT is also backed by the European Union, the World Bank, the International Finance Corporation, the Glasgow Financial Alliance for Net Zero, the International Bank for Reconstruction and Development, the Climate Investment Funds, KfW, the Powering Past Coal Alliance, the Royal Danish Embassy and the United Nations Industrial Development Organization.
The platform is designed as a coordination and investment-mobilisation framework that brings together public institutions, development partners, financial institutions, investors and private-sector participants around a shared implementation agenda.
Türkiye’s transition targets and sector impact
REACT aims to mobilise U.S. $300 billion across Türkiye’s renewable energy value chain by 2040, covering generation, grid infrastructure, energy storage, flexibility solutions, manufacturing and electrification in line with the COP31 35-by-35 Global Electrification Pledge.Ahead of COP31, Türkiye set a more ambitious energy target, aiming for 175 GW of installed solar and wind capacity by 2040. Meeting that goal requires coordinated action across renewable generation, grids, storage, policy reform, project development, financing and domestic supply chains.
Odile Renaud-Basso, EBRD President, says the bank is building on its existing presence in Türkiye’s energy sector and its broader investment record in the country. The EBRD is one of Türkiye’s largest institutional investors, with more than 26 billion euros invested, largely in the private sector.
In earlier coverage, we examined Europe macro policy debate as policymakers weighed inflation control, debt risks, and long-term investment needs.
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