Türkiye plans $300 billion energy transition investment by 2040, minister says
Türkiye plans to invest approximately $300 billion in its energy transition by 2040, Energy and Natural Resources Minister Alparslan Bayraktar said Tuesday at COP31 in Antalya. He gave the figure during a panel titled "Architecting Energy Transitions in a Shifting Global Landscape" at the climate conference.
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Bayraktar said electrification and energy efficiency are expected to produce $240 billion in cumulative savings by 2040. He said Türkiye needs substantial investment, strong partnerships, innovative technologies and a predictable investment environment to mobilize the required capital.
He added that "implementation is the key to success" and said the country has set targets and now must implement them. He said Türkiye is determined to contribute to regional and global energy security while strengthening its domestic energy infrastructure.
Bayraktar said the country aims to increase total installed power capacity from 128 gigawatts to 281 gigawatts by 2040, with wind and solar accounting for 175 gigawatts. He also said the National Energy Efficiency Action Plan aims to mobilize $20.2 billion between 2024 and 2030.
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