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The European Bank for Reconstruction and Development plans to invest $6 billion in renewable energy projects in Turkey over the next five years. This announcement was made during the COP31 climate summit in Antalya, where the bank joined the REACT platform aimed at accelerating renewable energy and clean energy transition in Turkey. The initiative seeks to mobilize a total of $300 billion in investments by 2040 for energy production development, modernization of electrical networks, and expansion of storage capacities. The funding will also focus on industrial capacity development and economic electrification, aligning with global electrification commitments made at COP31. REACT will support the transformation of Turkey's energy sector by promoting renewable sources and attracting necessary investment capital.
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