Minister Bayraktar announced Türkiye's energy targets: 20 gigawatts of nuclear capacity by 2050!

Minister of Energy and Natural Resources Alparslan Bayraktar spoke at the 19th Verona Eurasian Economic Forum held in Istanbul.

Stating that we are facing one of the most serious periods of energy insecurity in modern history, Bayraktar said that energy security should not be taken lightly.

Bayraktar stated that economies face three problems such as ensuring energy security, meeting the increasing demand and realizing the energy transformation, and said, "The real question is, 'How will we respond to this?' "The answer for Türkiye is clear: diversification, significant investment in energy and broader international cooperation." he said.

Stating that no country can completely eliminate all kinds of risks, Bayraktar said that it can establish more durable energy systems thanks to sound policies and strong partnerships, and this is the approach followed by Türkiye.

Minister Bayraktar stated that reducing dependence on energy imports for Türkiye is "not just a matter of energy policy, but a strategic economy and national security issue."

Stating that Türkiye's strategy is based on developing domestic resources, accelerating renewable and nuclear energy, increasing energy efficiency and strengthening the energy infrastructure, Bayraktar continued as follows:

"We are making significant progress in this field. Today, renewable sources account for more than 62 percent of our total installed electricity generation capacity. The total of our wind and solar energy capacity has already exceeded 43 gigawatts. We have set an ambitious target, which we will announce before COP31. Achieving this target requires a tremendous amount of investment and creates great opportunities for international cooperation."

Bayraktar stated that Türkiye foresees an electricity grid investment of approximately 80 billion dollars by 2040 and said, "These investments will help us integrate more renewable energy sources into the grid, maintain the durability of the grid and expand cross-border electricity trade." he said.

"OUR GOAL IS TO MAKE Türkiye A RELIABLE PARTNER CONNECTING REGIONAL ENERGY MARKETS"

Bayraktar said that energy connections with Azerbaijan and Georgia in the east, Iraq, Syria, Lebanon, Jordan and Saudi Arabia in the south, and Bulgaria and Greece towards Europe have been strengthened, adding: "Our goal is to make Türkiye not only an important energy actor, but also a reliable partner that connects regional energy markets." he said.

Emphasizing that renewable energy sources are of vital importance, Bayraktar said, "However, we also need low-carbon electricity production that is reliable, provides 24-hour uninterrupted service and meets the base load. This is why it is another important pillar of our nuclear energy strategy. Akkuyu Nuclear Power Plant (NGS), consisting of 4 reactors and with a total capacity of 4.8 gigawatts, is an important turning point in our energy history. We are in close cooperation with Rosatom to commission the first nuclear reactor in the coming months." We are working." he said.

Pointing out that Akkuyu NPP will meet approximately 10 percent of Türkiye's electricity demand when it reaches full capacity, Bayraktar said that the long-term goal is to reach 20 gigawatts of nuclear capacity by 2050, covering both large-scale reactors and small modular reactors.

Bayraktar also touched upon the importance of diversified supply sources and solid infrastructure and stated that the daily regasification capacity of liquefied natural gas (LNG) has been increased from approximately 30 million cubic meters to 160 million cubic meters in the last 10 years.

Stating that Türkiye is working to increase its natural gas storage capacity to 15 billion cubic meters, Bayraktar said, "While these capacities strengthen our own security, they also create opportunities to support our neighbors and regional markets. Turkey is already an important energy center connecting producer and consumer countries. We want to further develop this role." made his assessment.