By Charles Kennedy- Nov 05, 2026, 10:30 AM CST
Turkey targets overall financial investments of $500 billion in energy facilities in its brand-new energy strategy to 2040, Minister of Energy and Natural Resources, Alparslan Bayraktar, stated on Thursday, as the nation wants to improve its energy self-reliance and ultimately end up being energy independent.
In the last few years, Turkey has actually been paying up to $70 billion to import energy, consisting of coal, oil, and gas.
The brand-new energy strategy wants to slash the import expense while enhancing the homegrown resources, consisting of gas in the Black Sea and a fourfold dive in set up solar and wind power capability.
Turkey intends to fulfill its energy requires with homegrown resources and to carry out an overall financial investment of $500 billion in its energy facilities by 2040, minister Bayraktar stated today.
Turkey prepares to fulfill all its petroleum and gas intake through domestic resources, and increase its wind and solar set up capability fourfold to 175 gigawatts (GW) by 2040.
The nation aims to raise the share of renewable resource of its set up electricity-generation capability to 77%, and develop 10 GW of nuclear power capability, the minister stated.
AkkuyuTurkey’s very first nuclear reactor, is presently being developed by Russia’s Rosatom. With an overall capability of 4,800 MW, the nuclear reactor is anticipated to satisfy around 10% of the Turkish power need.
In the brand-new period of movement, Turkey will likewise target 20 million electrical automobiles (EVs) by 2040, while policies to increase energy performance are anticipated to bring $240 billion in cost savings, Bayraktar stated.
In 2015, Turkey ranked 4th in Europe in EV sales, with 190,000 completely electrical automobiles offered, or 17% of overall brand-new cars and truck sales, energy think tank Ember states
The share of solar and wind in Turkey has to do with 22%, however coal presently stays the single most significant power-generating source with 34%, according to information by Ember.
Investments in the electrical power tasks alone would need more than $200 billion in financial investment, according to Reuters computations.
By Charles Kennedy for Oilprice.com
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