Turkey has planned to invest $108 billion in renewable energy infrastructure over the next decade to achieve an installed capacity of 120 gigawatts in wind and solar energy. Turkey's Energy Minister, Arp Aslan Bayraktar, announced that of this amount, approximately $80 billion will be allocated for production and $28 billion for transmission infrastructure.
Renewable Energy Development and Energy Security
Turkey's investment plans align with European energy transition priorities, which require expanding wind and solar energy production capacities and improving transmission networks to prevent energy waste during low demand and high production times. Turkey aims to meet 35 percent of its final energy needs with electricity by 2035, reflecting the country's desire to reduce dependence on foreign suppliers.
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Investment Trends and Current Capacities
The Turkish Energy Minister also noted that over the past 24 years, the country has increased its electricity generation capacity from 32,000 megawatts to 126,000 megawatts. Turkey now has the third-largest electricity generation capacity in Europe after France and Germany. However, the installed capacity in renewable energy must be addressed, as this capacity is heavily dependent on weather conditions and cannot be fully utilized during peak demand times.
The country is also actively drilling in oil and gas. The Turkish Petroleum Corporation (TPAO) owns the large Sakarya field in the Black Sea, which currently produces 9.5 million cubic meters of gas per day. Internationally, TPAO operates in Pakistan, Libya, and recently in Somalia. Additionally, Turkey is exploring oil and gas off the coast of Cyprus, which has led to tensions with the Cypriot government.
Turkey is also seeking to increase the share of non-carbon energy sources in its electricity generation. Currently, hydropower accounts for about 17 percent of total electricity production, while wind and solar energy accounted for about 22 percent of production last year. However, coal still holds a larger share in the country's energy mix at 34 percent.
The Turkish government recognizes the importance of sustainable and diverse energy production and, considering the volatility in the energy market this year, is working to protect families and businesses from energy price fluctuations by increasing renewable energy capacities. Turkey's Environment Minister, Murat Kurum, noted that achieving the 35 percent target by 2035 will be one of the main priorities of the Turkish presidency at the COP31 conference.
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