Türkiye seeks $80B investment to quadruple renewable energy capacity

Türkiye has set an ambitious target to quadruple its installed capacity in wind and solar energy, requiring at least $80 billion in investments, according to Energy and Natural Resources Minister Alparslan Bayraktar, Report informs.

Speaking at the event titled "Ministerial Dialogue: Scaling Up Investments for Tripling Renewables and Doubling Energy Efficiency" within the framework of COP29, Bayraktar emphasized that Türkiye has serious renewable energy targets for 2035

"We recently announced a crucial green program that requires approximately $30 billion in investments," Bayraktar stated. "It is of great importance to ensure investments and financing in the areas I mentioned. We must work closely with international financial institutions to realize our projects."

The minister also highlighted that energy security remains a growing concern. "There is a significant increase in energy demand in Türkiye. We have less than thirty years to break free from high import dependency and achieve carbon neutrality," he said.

“To address these challenges, Türkiye's long-term energy strategy focuses on five key areas, including increasing renewable energy potential, improving energy efficiency in the economy, expanding nuclear energy production, utilizing hydrogen production and battery storage technologies, and investing in the production of minerals used in alternative energy.”

.