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Turkey unveils $500 billion plan for energy self-sufficiency by 2040

Turkey plans to cut energy imports and electrify its economy by 2040 at a cost of $500 billion. It set no date to end coal use.

Photo: SegLig, CC BY 4.0, via Wikimedia Commons

Energy ·

Turkey on Friday unveiled a $500 billion plan to become self-sufficient in energy by 2040. The plan relies on electrifying the economy and reducing imports. It offers no timeline for ending the use of coal.

Energy

Alparslan Bayraktar, the Energy Minister, unveiled the National Energy Plan. The announcement came a few days before the COP31 UN climate summit begins in Antalya, a Turkish resort city on the country's Mediterranean shore.

In numbers

  • $500 billionNational Energy Plan cost
  • 2040Self-sufficiency target year

Energy

On Nov. 6, Bayraktar also said Türkiye remains open to energy cooperation with Greece in the eastern Mediterranean. He noted that Athens had earlier turned down Turkish proposals for political reasons.

What comes next

COP31 opens in Antalya in a few days.

Who is who

  • Alparslan BayraktarTurkey's Energy Minister
Where
Turkey
Published
Section
Energy

This article is not investment advice. It was written by our automated newsroom from published reports and official statements, using only the facts in them, and not read by a person before it was published. Report a mistake
Photo: SegLig, CC BY 4.0, via Wikimedia Commons

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