Turkey requires an estimated $108 billion in investments to enhance its renewable energy capacity, aiming to quadruple its wind and solar power output to 120,000 megawatts by 2035. Energy and Natural Resources Minister Alparslan Bayraktar announced this goal during the unveiling of Türkiye's renewable energy roadmap. The upcoming tender for renewable energy resources in 2024 will be detailed next week, signaling a significant step towards achieving these ambitious targets.
The Turkish government is also looking to amend current regulations to make it easier for private sector investments in renewable energy. This includes expediting the licensing process for energy projects, with a goal to reduce the time required to obtain necessary permits from four years to just two years. Bayraktar emphasized the importance of focusing on the 34,000 megawatts of capacity that is currently licensed but not yet operational, to ensure these projects are transitioned into actual investments.
An allocation of approximately $28 billion will be specifically directed towards enhancing infrastructure necessary for energy conversion, including the construction of transformers and high-voltage transmission networks throughout Turkey. This investment is crucial for supporting the country's renewable energy expansion and ensuring efficient energy distribution.
