Joint financing project solar credit line via TKYB

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With its growing population and economy, Turkey is a major energy consumer and greenhouse gas emitter in the region and is therefore of considerable importance for global climate protection. In the Intended Nationally Determined Contribution (INDC) submitted to the Paris Climate Agreement, Turkey has set itself an expansion target of 30 GW for the solar sector by 2030. The financing required to achieve these expansion targets is large. The solar credit line project via TKYB is intended to implement private investments in renewable energies - in particular photovoltaic investments - and thus promote environmentally friendly power generation. For this purpose, KfW is providing the Turkish development bank TKYB (Türkiye Kalkinma ve Yatirim Bankasi A.S) with a credit line of up to EUR 45 million (low-interest development loan via the Turkish Ministry of Finance). The state development bank TKYB has a lot of experience in financing plants in the field of renewable energies. These experiences are now to be brought together by the TKYB focusing on financing medium-sized and small photovoltaic systems. The TKYB will thus be able to provide cheap and long-term loans for projects in the field of electricity generation from renewable energies / photovoltaics, so that project developers can invest more in this area. The aim of the measure is to make a contribution to the expansion goals of the Turkish energy policy in the field of photovoltaics, to global climate protection and to sustainable economic growth in Turkey. The immediate target group of the project are Turkish private investors who carry out PV projects and take out loans for this purpose. The indirect target group of the development policy measure are all electricity consumers connected to the interconnected grid. Private households, companies and energy consumers in the public sector benefit from a larger supply of electricity. The Turkish population benefits permanently from this measure through improved living conditions, lower environmental pollution, stable economic development and less dependence on imports through the use of domestic renewable energy sources.