Turkey to invest $108 billion in solar and wind energy — OilPrice
Turkey plans to invest $108 billion over the next ten years in developing renewable energy infrastructure and increase the installed capacity of wind and solar power plants to 120 GW by 2035. OilPrice reports, citing Turkish Energy Minister Alparslan Bayraktar.
Investment in generation and grids
According to Bayraktar, Turkey's renewable energy development roadmap through 2035 provides for about $80 billion in investment in electricity generation capacity and another $28 billion in transmission infrastructure. Grid expansion is intended to help deliver electricity from solar and wind plants to consumers.
Turkey also plans for electricity to cover up to 35% of its final energy consumption by 2035. Environment Minister Murat Kurum previously stated that the electrification of transport, buildings and industry should protect households and businesses from energy market volatility.
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Parallel development of oil and gas
At the same time, Ankara continues to expand oil and gas production domestically and abroad, while also seeking to strengthen Turkey's role as a regional gas hub for Europe. State-owned company TPAO is developing the Sakarya gas field in the Black Sea, where daily production amounts to 9.5 million cubic meters of gas.
TPAO also has interests in Pakistan, Libya and Somalia. In addition, Turkey is exploring for oil and gas off the coast of Cyprus; the Cypriot government has accused Ankara of drilling in its exclusive economic zone.
According to data cited by the publication, hydropower accounts for approximately 17% of electricity generation in Turkey, while the combined share of wind and solar generation was about 22% last year. Coal's share in the country's energy mix reached 34%.
