Sustainable energy

Türkiye has outlined its plans for renewable energy capacity expansion and clean energy transformation by 2035 to investors at a meeting in London, which marked the start of the Presidential Investment Office's Europe tour, with upcoming stops in France, the Netherlands and Germany.

World Bank Türkiye Director Humberto Lopez has announced plans for a $750 million project to upgrade the country's electricity transmission lines within the next six months, with an additional $750 million investment planned in the coming years.

Türkiye will strengthen Europe's energy security not only through natural gas but also by providing green energy, Energy Minister Alparslan Bayraktar has said, noting Türkiye's aim to increase installed renewable capacity to 120 gigawatts by 2035.

The European Bank for Reconstruction and Development (EBRD) has approved a loan of up to 50 million euros for Tenevo Solar Technologies EAD to build and operate a solar photovoltaic plant in southeastern Bulgaria. The project will produce over 300 GWh of electricity annually and help reduce carbon emissions by 250,000 tonnes per year.

Greece this week signed a clean energy deal with the EU in a bid to fast-track the green transition on its fragile islands threatened by overtourism and climate change.

Azerbaijan and Türkiye will take steps to strengthen their cooperation in green energy, the former's energy minister told state-run Anadolu at the U.N. climate change conference COP29 being held in Baku.

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.

Türkiye and the World Bank are in discussion to finance a $28 billion energy transmission infrastructure project, a cornerstone of Türkiye's renewable energy transformation plan.

The initiative aligns with Türkiye's 2035 renewable energy targets, aiming to expand the country's energy capacity and diversify its resources.

Metlen Energy & Metals has five projects in solar energy worth 2.2 billion Canadian dollars in its investment portfolio in Alberta, Canada, Metlen Regional CEO for North America Luis Laguna said during the Toronto Economic Forum 2024 in Ontario on Thursday.

The Environment and Energy Ministry's leadership underlined on Monday the need to improve the efficiency of energy conservation programs in order to achieve the ambitious energy planning goals with the funds available, at the Green Deal 2024 conference organized by the Technical Chamber of Greece.