Türkiye needs to utilize its huge potential in renewables: Minister

Türkiye has a huge potential in renewable energy that should be put to use, Energy and Natural Resources Minister Alparslan Bayraktar has said.

"We want to increase the installed capacity of 27,000 megawatts in solar and wind with an additional 60,000 megawatts by 2035," Bayraktar told a meeting with businesspeople in the northern province of Trabzon.

Türkiye heavily relies on imported energy, which leads to a current account deficit, the minister said, adding that the government is working to address this issue.

"Türkiye has to engage domestic and renewable resources to the maximum extent in order to reduce its dependency on imported energy and to meet the growing demand for energy," Bayraktar added, stressing that those solar, wind, hydroelectric and geothermal resources should be put in use.

Türkiye also needs to focus on the efficient use of energy, according to the minister.

He recalled that the 2030 Energy Efficiency Plan foresees $20 billion of investments in this field.

"We aim to realize these investments with the private sector and public institutions and to improve energy consumption by 16 percent and to target to create a less energy-intensive industry, buildings, transportation, and agriculture sectors," Bayraktar said.

He also said that the Sakarya field, which holds 710 billion cubic meters of recoverable reserves, in the Black Sea is already producing natural gas that is enough to supply 2.4 million homes.

Daily production at the Sakarya field presently is around 5.5 million cubic meters, according to the minister.

Oil production from the 41 wells at the Gabar field in the country's southeast has risen to 45,000 barrels a day, Bayraktar said, noting that the target is to increase...