Minister of Energy and Natural Resources Alparslan Bayraktar attended the International Energy Agency (UEA) Energy Ministers Meeting on the margins of the 31st Conference of the Parties to the UN Framework Convention on Climate Change (COP31) held in Antalya. Pointing out that there have been crises one after another in recent years, Minister Bayraktar said, "The world, on the one hand, is trying to ensure economic growth and energy supply security, while on the other hand, it is trying to reduce its emissions in order to achieve its climate goals. Today, more than ever, energy supply security has become a national security issue."
175 Gigawatt TARGET IN SOLAR AND WIND
Expressing that they believe that the way forward for Turkey is through electrification, Minister Bayraktar reminded that he announced the 'National Energy 2040' vision last week and said, "This plan reveals our long-term vision and provides a clear road map for the upcoming transformation process. We will direct our increasing energy demand from oil and natural gas to electrical energy. We aim to increase our installed power, which is approximately 128 gigawatts today, to 281 gigawatts by 2040. More importantly, "We will provide 175 gigawatts of this capacity from solar and wind energy. We will increase the share of renewable energy in the total installed power from 63 percent today to 77 percent in 2040. We also aim to commission 10 gigawatts of nuclear energy capacity as one of the indispensable elements of a balanced, reliable and low-carbon energy system," he said.
'IT WILL ENABLE US TO DEEPEN REGIONAL ENERGY COOPERATION'
Stating that the energy system of the future requires flexibility, storage capacity and stronger interconnected networks, Minister Bayraktar said, "Therefore, our plan also includes 40 gigawatt-hours of battery storage capacity and 15 gigawatts of cross-border electricity connection capacity. These investments will enable us to integrate high rates of renewable energy into our system, increase the durability of our energy system and deepen regional energy cooperation." Minister Bayraktar underlined that another fundamental element of their vision is energy efficiency.
SAVINGS OF 240 BILLION DOLLARS
Stating that they aim to mobilize 20 billion dollars of investment between 2024-2035 with the National Energy Efficiency Action Plan they announced two years ago, Minister Bayraktar said, "We foresee that the steps we will take in the field of energy efficiency together with electrification will provide a cumulative savings of 240 billion dollars to our country by 2040."
300 BILLION DOLLAR INVESTMENT NEED
Emphasizing that this transformation requires a very significant amount of investment, Minister Bayraktar said, "According to our estimates, we need an investment of approximately 300 billion dollars for this transformation by 2040. While this is an extremely large responsibility, it also means a tremendous investment opportunity. We need strong partnerships, innovative technologies and a predictable investment environment to mobilize the needed capital."
'WE ARE DETERMINED TO TAKE AN ACTIVE ROLE IN THIS TRANSFORMATION'
Pointing out that the theme of COP31 this year is of great importance at this point, Minister Bayraktar said, "The key to success is implementation. We have set our goals, made our promises, put forward our commitments. Now is the time to put them into practice. As Turkey, we are determined to take an active role in this transformation. We will achieve this not only by strengthening our own energy infrastructure, but also by contributing to regional and global energy supply security. I believe that the future of energy can be achieved with ambitious goals, realistic and rational policies, strong infrastructure and, of course, effective, comprehensive "National Energy 2040 is a concrete expression of our determination for this future."
