| Financier | Commitments |
|---|---|
| Energy Sector Management Assistance Program | 0.35 |
| International Bank for Reconstruction and Development | 550.00 |
| Borrower/Recipient | 77.50 |
| Clean Technology Fund | 39.80 |
Turkey Geothermal Development Project
Abstract*
The development objective of Geothermal Development Project for Turkey is to scale up private sector investment in geothermal energy development. This project has two components. The fist component, Risk Sharing Mechanism (RSM) for Resource Validation, aims to promote private sector development of renewable geothermal energy projects in the early stage geothermal exploratory and confirmation drilling stages by sharing the risk of failing to validate... Show More
Development Objective
The Project Development Objective is to scale up private sector investment in geothermal energy development in Turkey.
Key Details
Project Details
P151739
Active
Manuel Millan Sanchez , Alan Lee
Turkiye Kalkinma ve Yatirim Bankasi A.S. (TKYB),Turkiye Sinai Kalkinma Bankasi A.S. (TSKB)
January 20, 2015
(as of board presentation)
November 1, 2016
February 16, 2017
US$ 352.30 million
Turkiye Sinai Kalkinma Bankasi A.S. (TSKB),Turkiye Kalkinma ve Yatirim Bankasi A.S. (TKYB)
2017
US$ 590.15 million
F
May 7, 2024
December 31, 2027
Yes
BANK APPROVED
Finances
Financing Plan (US$ Millions)
Total Project Financing (US$ Millions)
| Product Line | IBRD/IDA |
|---|---|
| IBRD Commitment | 550.00 |
| IDA Commitment | N/A |
| IBRD + IDA Commitment | 550.00 |
| Lending Instrument | |
|---|---|
| Grant Amount | 40.15 |
| Total Project Cost** | 352.30 |
Summary Status of World Bank Financing (US$ Millions) as of February 28, 2025
No data available.
| Period | Financier | Transaction Type | Amount (US$) |
|---|---|---|---|
| Feb 15, 2023 | IBRD-93190 | Int Charges | 151.55 |
| Feb 15, 2023 | IBRD-93190 | Int Charges | 1,751.80 |
| Feb 15, 2023 | IBRD-93190 | Int Charges | 188,568.48 |
| Feb 15, 2023 | IBRD-93190 | Int Charges | 9,605.78 |
| Aug 29, 2024 | IBRD-93200 | Loan Disb | 10,000,000.00 |
| Aug 15, 2024 | IBRD-93190 | Int Charges | 68.93 |
| Aug 15, 2024 | IBRD-93190 | Int Charges | 186,009.22 |
| Aug 15, 2024 | IBRD-93190 | Int Charges | 13,256.65 |
| Apr 15, 2024 | IBRD-93200 | Int Charges | 130.06 |
| Apr 15, 2024 | IBRD-93200 | Int Charges | 187,249.66 |
| Feb 15, 2018 | IBRD-86520 | Int Charges | 125,712.34 |
| Feb 15, 2018 | IBRD-86520 | Int Charges | 2,951.66 |
| Mar 15, 2018 | IBRD-86530 | Int Charges | 148,302.23 |
| Mar 15, 2018 | IBRD-86530 | Int Charges | 352,780.34 |
| Aug 15, 2017 | IBRD-86520 | Int Charges | 135,308.20 |
| Aug 15, 2017 | IBRD-86520 | Int Charges | 2,725.01 |
| Sep 15, 2017 | IBRD-86530 | Int Charges | 582.19 |
| Sep 15, 2017 | IBRD-86530 | Int Charges | 169,458.90 |
| Sep 15, 2017 | IBRD-86530 | Int Charges | 180,275.84 |
| Sep 15, 2017 | IBRD-86530 | Int Charges | 46,163.53 |
| Feb 16, 2017 | IBRD-86520 | Loan Disb | 250,000.00 |
| Feb 16, 2017 | IBRD-86520 | Fee Charges | 250,000.00 |
| Feb 16, 2017 | IBRD-86530 | Loan Disb | 375,000.00 |
| Feb 16, 2017 | IBRD-86530 | Fee Charges | 375,000.00 |
| Jun 14, 2017 | IBRD-86530 | Loan Disb | 30,000,000.00 |
| Jun 27, 2018 | IBRD-86530 | Loan Disb | 27,500,000.00 |
| Jun 14, 2018 | IBRD-86530 | Loan Disb | 30,000,000.00 |
| Jun 7, 2018 | IBRD-86520 | Loan Disb | 12,455,000.00 |
| Sep 15, 2018 | IBRD-86530 | Int Charges | 98,294.52 |
| Sep 15, 2018 | IBRD-86530 | Int Charges | 1,162,967.80 |
| May 14, 2018 | IBRD-86520 | Loan Disb | 9,925,000.00 |
| Aug 3, 2018 | IBRD-86520 | Loan Disb | 2,775,460.00 |
| Jun 18, 2018 | IBRD-86530 | Loan Disb | 30,000,000.00 |
| Apr 16, 2018 | IBRD-86520 | Loan Disb | 20,000,000.00 |
| Mar 15, 2019 | IBRD-86530 | Int Charges | 2,044,640.10 |
| Feb 15, 2019 | IBRD-86520 | Int Charges | 228.12 |
| Feb 15, 2019 | IBRD-86520 | Int Charges | 2,473.33 |
| Feb 15, 2019 | IBRD-86520 | Int Charges | 68,598.64 |
| Feb 15, 2019 | IBRD-86520 | Int Charges | 786,725.25 |
| Feb 8, 2019 | IBRD-86520 | Loan Disb | 4,285,000.00 |
| Aug 15, 2018 | IBRD-86520 | Int Charges | 94,650.84 |
| Aug 15, 2018 | IBRD-86520 | Int Charges | 344,533.25 |
| Mar 22, 2019 | IBRD-86520 | Loan Disb | 3,080,000.00 |
| Mar 15, 2019 | IBRD-86530 | Int Charges | 39,826.20 |
| Feb 15, 2020 | IBRD-86520 | Int Charges | 896,959.10 |
| Feb 15, 2020 | IBRD-86520 | Int Charges | 753.03 |
| Feb 15, 2020 | IBRD-86520 | Int Charges | 10,363.44 |
| Feb 15, 2020 | IBRD-86520 | Int Charges | 46,836.04 |
| Apr 15, 2024 | IBRD-93200 | Int Charges | 13,334.12 |
| Aug 15, 2024 | IBRD-86520 | Int Charges | 18,377.87 |
| Aug 15, 2024 | IBRD-86520 | Int Charges | 3,383,442.50 |
| Oct 15, 2023 | IBRD-93200 | Int Charges | 197.94 |
| Oct 15, 2023 | IBRD-93200 | Int Charges | 187,543.66 |
| Oct 15, 2023 | IBRD-93200 | Int Charges | 12,348.31 |
| May 20, 2024 | IBRD-93200 | Loan Disb | 10,000,000.00 |
| Jun 13, 2024 | IBRD-93200 | Loan Disb | 10,000,000.00 |
| Feb 15, 2024 | IBRD-86520 | Int Charges | 29,079.07 |
| Feb 15, 2024 | IBRD-86520 | Int Charges | 3,374,770.00 |
| Feb 15, 2024 | IBRD-93190 | Int Charges | 109.04 |
| Feb 15, 2024 | IBRD-93190 | Int Charges | 188,442.48 |
| Feb 15, 2024 | IBRD-93190 | Int Charges | 13,230.39 |
| Mar 15, 2024 | IBRD-86530 | Loan Repay | 3,570,000.00 |
| Mar 15, 2024 | IBRD-86530 | Int Charges | 74,274.74 |
| Mar 15, 2024 | IBRD-86530 | Int Charges | 5,013,377.00 |
| Dec 16, 2021 | IBRD-93190 | Loan Commitment | 150,000,000.00 |
| Dec 16, 2021 | IBRD-93200 | Loan Commitment | 150,000,000.00 |
| Nov 1, 2016 | IBRD-86520 | Loan Commitment | 100,000,000.00 |
| Nov 1, 2016 | IBRD-86530 | Loan Commitment | 150,000,000.00 |
| Mar 15, 2020 | IBRD-86530 | Int Charges | 40,001.74 |
| Mar 15, 2020 | IBRD-86530 | Int Charges | 1,752,015.40 |
| Jan 21, 2020 | IBRD-86520 | Loan Disb | 20,000,000.00 |
| Sep 15, 2019 | IBRD-86530 | Int Charges | 40,486.30 |
| Sep 15, 2019 | IBRD-86530 | Int Charges | 2,156,850.50 |
| Jul 31, 2019 | IBRD-86520 | Loan Disb | 7,329,540.00 |
| Aug 15, 2019 | IBRD-86520 | Int Charges | 205.44 |
| Aug 15, 2019 | IBRD-86520 | Int Charges | 2,619.09 |
| Aug 15, 2019 | IBRD-86520 | Int Charges | 58,537.01 |
| Aug 15, 2019 | IBRD-86520 | Int Charges | 954,858.30 |
| Sep 15, 2020 | IBRD-86530 | Int Charges | 1,013,355.00 |
| Sep 15, 2020 | IBRD-86530 | Int Charges | 34,706.28 |
| Aug 15, 2020 | IBRD-86520 | Int Charges | 3,415.29 |
| Aug 15, 2020 | IBRD-86520 | Int Charges | 37,140.27 |
| Aug 15, 2020 | IBRD-86520 | Int Charges | 12,233.61 |
| Aug 15, 2020 | IBRD-86520 | Int Charges | 1,180,536.40 |
| May 15, 2020 | IBRD-86520 | Loan Disb | 19,900,000.00 |
| Jun 24, 2020 | IBRD-86530 | Loan Disb | 10,000,000.00 |
| Feb 15, 2021 | IBRD-86520 | Int Charges | 633,777.75 |
| Mar 15, 2021 | IBRD-86530 | Int Charges | 758,653.94 |
| Mar 15, 2021 | IBRD-86530 | Int Charges | 27,384.23 |
| Mar 15, 2022 | IBRD-86530 | Int Charges | 694,361.25 |
| Jun 17, 2022 | IBRD-93190 | Loan Disb | 375,000.00 |
| Jun 17, 2022 | IBRD-93190 | Fee Charges | 375,000.00 |
| Jun 17, 2022 | IBRD-93200 | Loan Disb | 375,000.00 |
| Jun 17, 2022 | IBRD-93200 | Fee Charges | 375,000.00 |
| Sep 15, 2021 | IBRD-86530 | Int Charges | 27,883.56 |
| Sep 15, 2021 | IBRD-86530 | Int Charges | 725,477.50 |
| Aug 15, 2021 | IBRD-86520 | Int Charges | 568,138.90 |
| Oct 15, 2022 | IBRD-93200 | Int Charges | 244,212.33 |
| Oct 15, 2022 | IBRD-93200 | Int Charges | 4,536.87 |
| Aug 15, 2022 | IBRD-86520 | Int Charges | 790,893.44 |
| Feb 15, 2022 | IBRD-86520 | Int Charges | 557,111.10 |
| Mar 15, 2022 | IBRD-86530 | Int Charges | 27,428.94 |
| Apr 15, 2023 | IBRD-93200 | Int Charges | 381.54 |
| Apr 15, 2023 | IBRD-93200 | Int Charges | 186,518.81 |
| Apr 15, 2023 | IBRD-93200 | Int Charges | 10,211.73 |
| Mar 15, 2023 | IBRD-86530 | Int Charges | 145,853.70 |
| Mar 15, 2023 | IBRD-86530 | Int Charges | 27,428.94 |
| Mar 15, 2023 | IBRD-86530 | Int Charges | 3,354,854.50 |
| Sep 15, 2022 | IBRD-86530 | Int Charges | 27,883.56 |
| Sep 15, 2022 | IBRD-86530 | Int Charges | 1,330,833.80 |
| Sep 20, 2022 | IBRD-93190 | Int Charges | 181,697.78 |
| Sep 15, 2023 | IBRD-86530 | Int Charges | 4,182,006.50 |
| Sep 15, 2023 | IBRD-86530 | Int Charges | 48,840.27 |
| Sep 15, 2023 | IBRD-86530 | Int Charges | 14,699.48 |
| Aug 15, 2023 | IBRD-93190 | Int Charges | 393.21 |
| Aug 15, 2023 | IBRD-93190 | Int Charges | 185,493.98 |
| Aug 15, 2023 | IBRD-93190 | Int Charges | 11,554.12 |
| Aug 15, 2023 | IBRD-86520 | Int Charges | 104,857.28 |
| Aug 15, 2023 | IBRD-86520 | Int Charges | 2,930,263.50 |
| Jun 20, 2023 | IBRD-86530 | Loan Disb | 22,125,000.00 |
| Feb 15, 2023 | IBRD-86520 | Int Charges | 161,487.45 |
| Feb 15, 2023 | IBRD-86520 | Int Charges | 2,408,202.20 |
Ratings
IMPLEMENTATION RATINGS
| Name | Review | Date |
|---|---|---|
| Project Management | Moderately Satisfactory | 2025-01-16 |
| Monitoring and Evaluation | Satisfactory | 2025-01-16 |
| Monitoring and Evaluation | Satisfactory | 2025-01-16 |
| Procurement | Satisfactory | 2025-01-16 |
| Financial Management | Satisfactory | 2025-01-16 |
| Progress towards achievement of PDO | Moderately Satisfactory | 2025-01-16 |
| Overall Implementation Progress (IP) | Moderately Unsatisfactory | 2025-01-16 |
| Project Management | Moderately Satisfactory | 2025-01-16 |
| Overall Implementation Progress (IP) | Moderately Unsatisfactory | 2025-01-16 |
| Progress towards achievement of PDO | Moderately Satisfactory | 2025-01-16 |
| Procurement | Satisfactory | 2025-01-16 |
| Financial Management | Satisfactory | 2025-01-16 |
COMPLETION RATINGS
No data available.
INDEPENDENT EVALUATION RATINGS
No data available.
Results Framework
PROJECT DEVELOPMENT OBJECTIVE INDICATORS
| INDICATOR | BASELINE | CURRENT | TARGET |
|---|
Generation Capacity of Renewable Energy (other than hydropower) constructed under the project Value 0.00 253.25 383.00 Date June 30, 2015 October 3, 2023 December 31, 2027 Comment Estimated CO2 emission reductions Value 0.00 817188.00 945000.00 Date June 30, 2015 October 3, 2023 December 31, 2026 Comment Private capital mobilized Value 0.00 599133288.00 555000000.00 Date June 30, 2015 October 3, 2023 December 31, 2027 Comment Total capital leveraged Value 0.00 695883288.00 840000000.00 Date June 30, 2015 October 3, 2023 December 31, 2027 Comment Generation Capacity of Renewable Energy constructed-Geo-thermal Value 0.00 253.25 383.00 Date June 30, 2015 October 3, 2023 December 31, 2026 Comment
INTERMEDIATE RESULTS INDICATORS
| INDICATOR | BASELINE | CURRENT | TARGET |
|---|
Volume of direct financing catalyzed by CTF financing Value 0.00 8643288.00 78000000.00 Date June 30, 2015 October 3, 2023 December 31, 2022 Comment Geothermal resources developed through capacity drilling Value 0.00 183.25 320.00 Date June 30, 2015 October 3, 2023 December 31, 2027 Comment Exploration drilling projects supported under the Risk Sharing Mechanism Value 0.00 2.00 16.00 Date June 30, 2015 October 3, 2023 December 31, 2022 Comment Capacity for direct use applications developed under the project Value 0.00 0.00 22.00 Date October 4, 2021 October 3, 2023 December 31, 2027 Comment Geothermal resources (for electricity and heat) confirmed through exploration drilling Value 0.00 0.00 99.50 Date June 30, 2015 October 3, 2023 December 31, 2022 Comment Capacity drilling projects supported by the Loan Facility Value 0.00 7.00 12.00 Date June 30, 2015 October 3, 2023 December 31, 2027 Comment Grievance registered related to delivery of project benefits addressed within stipulated service standards for response times Value 0.00 100.00 100.00 Date June 30, 2015 October 3, 2023 December 31, 2022 Comment Portfolio at risk 90 days Value 0.00 0.00 4.00 Date June 30, 2015 October 3, 2023 December 31, 2027 Comment Grievance registered related to delivery of project benefits addressed within stipulated service standards for response times Value 0.00 100.00 100.00 Date June 30, 2015 October 3, 2023 December 31, 2027 Comment Women-led or women owned enterprises that receive grants for feasibility assessments for direct use projects Value 0.00 0.00 3.00 Date June 30, 2021 October 3, 2023 December 31, 2027 Comment Increase in percentage of women in technical and managerial positions in companies supported by the project Value 0.00 0.00 5.00 Date June 30, 2021 October 3, 2023 December 31, 2027 Comment Participants in gender-bias training from sub-project sponsors Value 0.00 12.00 130.00 Date June 30, 2021 October 3, 2023 December 31, 2027 Comment Beneficiaries that receive positive feedback from citizens through use of new and effective engagement tools Value 0.00 0.00 80.00 Date June 30, 2021 October 3, 2023 December 31, 2027 Comment Beneficiaries who report that the project has established effective engagement processes Value 0.00 0.00 80.00 Date June 30, 2021 October 3, 2023 December 31, 2027 Comment