Türkiye sets $100 billion wind and solar plan to 2040
Energy Minister Alparslan Bayraktar unveiled a plan to reach 175,000 megawatts of wind and solar capacity by 2040, backed by about $100 billion. Türkiye hosts the COP31 climate summit in Antalya next week.
Energy and Natural Resources Minister Alparslan Bayraktar presented the "National Energy 2040" strategy in Istanbul on Thursday. The plan would nearly quadruple Türkiye's wind and solar power capacity by 2040.
The goal is 175,000 megawatts of installed wind and solar capacity. Bayraktar put the investment needed at about $100 billion. The money is meant to cut reliance on imported fuels and meet rising demand for electricity.
The news arrives as Türkiye gets ready to host COP31, the 31st annual UN climate summit under its framework convention. Delegates gather in Antalya next week. The meeting runs until Nov. 20 at the Antalya Expo Center.
Murat Kurum serves as COP President for the host country. Australia's Chris Bowen leads the negotiations. Commentary ahead of the summit says it must move from commitments to carrying them out.
What comes next
COP31 opens in Antalya next week and runs through Nov. 20.
Background
COP is the annual UN climate conference. Türkiye hosts this year's edition, with Murat Kurum as COP President.
People in this story
- Alparslan Bayraktar, Energy and Natural Resources Minister
- Murat Kurum, COP31 President
- Chris Bowen, Leads COP31 negotiations for Australia
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. How we work · Report a mistake