Türkiye’s energy ministry is poised to restart auctions next year for designated renewable energy zones to attract global investment, aiming to significantly increase its renewable capacity. The country plans to add 2,000 megawatts of new renewable energy capacity annually until 2035.
Specifically, Türkiye aims to scale up solar energy from 9.5 gigawatts in 2022 to 52.9 gigawatts by 2035, with a target of 7.5 gigawatts for battery storage. The ministry is also considering incentives for companies holding unused licenses for wind and solar plants to encourage construction, as this untapped capacity has hindered new market entrants.
In support of its renewable energy initiatives, Türkiye has secured backing from the World Bank for a $1 billion program and assistance from the European Bank for Reconstruction and Development for decarbonization efforts in sectors like steel, cement, and aluminum. Türkiye has set a net-zero target for 2053 and estimates that over $70 billion in investments will be necessary to reduce CO2 emissions by 135 million tonnes annually in these sectors.
