Investing $73 billion! Turkey targets green energy future
2024-06-07 17:53

Ramazan Usta, deputy director-general for energy affairs at Turkey's Ministry of Energy and Natural Resources, recently said in public that Turkey plans to make large-scale investments in renewable energy, expected to total $73 billion over the next dozen years, in order to promote a green transformation of its energy mix.

Double jump in investment scale and installed capacity

According to the National Energy Plan developed by the Turkish Ministry of Energy and Natural Resources, Turkey will add 74,353 MW of installed renewable energy capacity by 2035, making a qualitative leap in total installed capacity. Such a large-scale investment and installed capacity growth will undoubtedly push Turkey to the forefront of global renewable energy development.

Green transformation helps win-win for economy and environment

This investment is not only a strategic consideration for future energy needs, but also a positive response to environmental protection. By vigorously developing renewable energy, Turkey aims to reduce its dependence on fossil fuels and reduce greenhouse gas emissions, thereby contributing to the global response to climate change. At the same time, with the growth of the renewable energy industry, the development of the related industry chain will also create more jobs and economic growth points for Turkey.

Energy security and safety go hand in hand with cost reduction

It is worth mentioning that this investment program is also expected to significantly improve Turkey's energy security. By increasing the share of renewable energy sources, Turkey will be able to reduce its dependence on external energy supplies, especially natural gas imports. It is predicted that if the plan is successfully realized, Turkey will be able to reduce up to 703 billion cubic meters of natural gas imports, which will not only help to reduce energy costs, but also in the volatility of the international energy market to maintain greater stability.

Up until now, the development of renewable energy in Turkey has achieved remarkable results. According to the latest data, as of the end of April 2024, Turkey's total installed capacity of renewable energy has reached 63,000 MW, accounting for more than 58% of its total power generation. This figure not only highlights Turkey's solid foundation in the field of renewable energy, but also lays a good start for its further development in this field in the future.

Source; solarbe

Tags:renewable energy