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Energy and Natural Resources Minister Alparslan Bayraktar told delegates at the COP31 climate conference that Türkiye anticipates a roughly $300 billion investment requirement to deliver its energy transition by 2040. The minister outlined the National Energy 2040 plan as the framework for shifting oil and natural gas demand toward electricity while expanding overall power capacity from 128 gigawatts to 281 gigawatts. Bayraktar added that the approach would also deliver cumulative savings of $240 billion through electrification and efficiency measures by the target date.
Bayraktar said the plan would lift the renewables share of installed capacity from 63 percent currently to 77 percent by 2040 with wind and solar accounting for 175 gigawatts of the total. The minister stated that Türkiye would develop 10 gigawatts of nuclear capacity as a foundation for a balanced low-carbon system. According to the presentation 140 gigawatt-hours of battery storage and 15 gigawatts of enhanced interconnection capacity would support grid flexibility.
The National Energy Efficiency Action Plan aims to mobilize $20.2 billion between 2024 and 2030 a ministry assessment found. Bayraktar noted that the most affordable energy is ultimately the energy not consumed. He told the panel that success would hinge on strong partnerships innovative technologies and a predictable investment climate to attract the required capital.
Ember data places Türkiye’s wind and solar generation at 62 terawatt-hours in 2024 surpassing domestic coal output for the second consecutive year. The share of renewables in installed power capacity stood near 62 percent at the end of 2025 according to figures from the Energy Market Regulatory Authority. Enerdata reports project electricity demand rising from 365 terawatt-hours in 2025 to 680 terawatt-hours in 2040 driving the need for the expanded capacity outlined by Bayraktar.
Türkiye has committed to net-zero emissions by 2053 a target that aligns with the 40 percent emissions reduction embedded in the 2040 roadmap according to government strategy documents. The plan builds on earlier renewable energy tenders that have already brought substantial solar and wind projects to financial close. Bayraktar emphasized that annual tenders of at least 2 gigawatts for renewables would continue alongside offshore wind development targeting 6 gigawatts by 2040.
International cooperation will prove essential to realizing the investment scale a point Bayraktar reiterated during the Türkiye-IEA energy ministers meeting at COP31. The minister described the $300 billion figure as both a significant undertaking and a major opportunity for investors. He concluded that targets have been set commitments made and the focus must now shift to implementation.
