Türkiye plans $10 billion of grid investments by 2030: Energy minister
ANKARA
The utilization of renewables and upgrading transmission infrastructure for more renewables are Türkiye’s major areas of focus, Energy Minister Alparslan Bayraktar has said, stressing that the country plans to invest $10 billion in the grid by 2030.
The country’s installed capacity has surpassed 106 gigawatts with a remarkable contribution of renewables at 55 percent, the minister said in a video message he sent to the panel hosted by the World Bank with a special focus on Türkiye at the COP28 summit in Dubai.
Having ranked fifth in Europe and 12th globally, this milestone proves Türkiye’s commitment to sustainable energy solutions, Bayraktar said.
“Our projections indicate promising trajectory as we aim to escalate total installed capacity, including 60 gigawatts of renewable energy generation capacity to 190 gigawatts by 2035.”
Conversations with the World Bank group continue, as they have committed to support the scale-up plan with financial assistance partnering with the Energy Ministry and key private sector actors, he furthered.
The energy transition requires a continuous upgrade of the grid, he said, adding, “That’s why we are working toward a Green Grid that has strong connectivity and is able to manage the projected renewable capacity increase.”
“We have a $10 billion grid investment plan by 2030.”
In addition to building the necessary infrastructure, the Energy Ministry is also considering changes to the existing policy setting to create a supportive environment for the massive scale-up in private investment needed, according to Bayraktar.
“The role of the private sector is critical. It will be important to foster competitiveness among private actors,” he said.
Bayraktar recalled that Türkiye targets reducing emissions by 100 million tons cumulatively in its Energy Efficiency Action Plan for 2024-2030.
“The plan is ambitious, and the challenges are many, but through partnership with the international community, including the financial institutions and investors, we can achieve this,” he said.
The World Bank will accompany Türkiye in its energy transition effort focusing on modernizing and digitizing the transmission and distribution grid, as well as addressing key barriers to enable a scale-up of private capital investments, said Humberto Lopez, Word Bank country director.
“We would like to recognize Türkiye for taking the decision to double renewable energy generation capacity by adding 60 GW of solar and wind by 2035. This is one of the most ambitious programs the world has seen among energy transition countries,” he added.
