The $5.4 billion Clean Technology Fund (CTF) is empowering transformation in developing countries by providing resources to scale up low carbon technologies with significant potential for long-term greenhouse gas emissions savings. Over $4 billion (75% of CTF resources) is approved for implementation in renewable energy, energy efficiency, and clean transport.
This is expected to leverage another $47 billion in co-financing from other sources. The CTF is at the forefront of financing promising renewable energy technologies, such as concentrated solar power (CSP). CTF $900 million is supporting groundbreaking CSP projects in countries as diverse as Chile, South Africa, and Morocco, and contributing to 1 gigawatt of new power generation.
The European Bank for Reconstruction and Development (EBRD) and the Climate Investment Funds, through its Clean Technology Fund (CTF), are investing $125 million in Turkey's geothermal potential under the PLUTO Initiative (Private Sector Early Stage Development Framework), as part of a global push to scale up renewable energy production.
