Turkey plans to invest $300 billion in energy transformation by 2040
Turkey intends to allocate about $300 billion to a large-scale transformation of its energy sector.
This was announced by the country's Energy Minister Alparslan Bayraktar at a meeting of energy ministers of Turkey and the International Energy Agency as part of COP31 in Antalya.
According to the "National Energy — 2040" plan, Turkey intends to increase the installed capacity of its power system from 128 to 281 GW, bring wind and solar power capacity to 175 GW, and nuclear power capacity to 10 GW.
The share of renewable energy sources is expected to grow from the current 63% to 77%.
In addition, it is planned to create battery energy storage systems with a total capacity of 140 GWh and to increase the throughput capacity of interstate energy interconnections to 15 GW.
According to Bayraktar, electrification and improved energy efficiency will make it possible to save up to $240 billion by 2040.
The minister emphasized that implementing the program requires international cooperation, modern technologies, and favorable conditions for investors.
Source: TRT Haber
