GEO: Turkey Geofund

Project Summary

To address barriers to geothermal markets in Turkey thourgh technical assistance and Geologica Risk Mitigation. The increase of geothermal energy use by developing and implementing four financially viable projects in Turkey will help to accelerate the use of geothermal energy, build private-sector confidence in investing in this resource and and offering geological risk insurance, and demonstrate to the regulatory bodies at national and local government levels approaches to address geothermal resource risks cost effectively. Through this project direct GHG emission reductions of 18.4 million tons over a 20-year investment lifetime will be achieved.

Project Details

GEF Project ID
4224
Project Type
Full-size Project
Status
Completed
Country
Turkey
Region
Focal Areas
Funding Source
GEF Trust Fund
Implementing Agencies
The World Bank
Executing Agencies
IFC in collaboration with Ministry of Environment and Forestry of Turkey
GEF Period:
GEF - 3
Approval Fiscal Year:
2003

Financials

Project Preparation Grant Amount
0 USD
GEF Project Grant
10,000,000 USD
Co-financing Total
10,650,000 USD
GEF Agency Fees
0 USD
Total Cost 20,650,000.00 USD

Project Timeline

Received by GEF
16 Feb 2010
Concept Approved
28 Feb 2010
Project Approved for Implementation
04 May 2010
Project closed
30 Jun 2016