Türkiye to invest $80 billion in renewables in next decade

The total amount of major investment drive for electricity generation from renewable energy will be around $80 billion in the next 11 to 12 years, Energy and Natural Resources Minister Alparslan Bayraktar has said.

Speaking at parliament's planning and budget commission the minister stressed that there is a need to shape the electricity generation portfolio in line with the 2053 net-zero emission targets while meeting the increasing electricity demand.

The Renewable Energy 2035 roadmap, unveiled last month, is designed to meet electricity demand, which is forecast to rise to 510 kWh in 2035 mainly with green energy, according to the minister.

"With this roadmap, we aim to quadruple our current wind and solar installed capacity to 120 thousand MW in the next 11 years," he said, adding that it is necessary to have a strong infrastructure and network in order to technically manage the renewable energy capacity.

"In order to ensure our security of supply, we plan to invest around $28 billion in our electricity transmission infrastructure until 2035," Bayraktar added.

With these investments, a 40,000 megawatt and around 15, 000 kilometers of high-voltage direct current (HVDC) transmission network will be established to create a green energy corridor across Türkiye, according to the minister.

The country's electricity demand has increased by an average of 4.4 percent annually over the past 20 years to 335 billion kWh, while the installed electricity generation capacity reached 114,600 MW, he noted.

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