Türkiye plans $20B energy efficiency investment by 2030

Türkiye will invest $20 billion in energy efficiency schemes in the public and private sectors by 2030, Turkish energy and natural resources minister announced on Monday.

Through the investment, 'we will save $46 billion worth of energy by 2040,' Alparslan Bayraktar said during the press conference where he revealed the 2030 Energy Efficiency Strategy and Action Plan.

Also, 'we will create new job opportunities by supporting companies operating in the field of energy efficiency,' Bayraktar added.

Bayraktar unveiled 10 strategic goals and 23 targets as part of the new plan.

'With the implementation of our action plan, we will reduce our energy consumption by %16 and contribute to 100 million tons of emission reduction by 2030,' he added.

The minister also noted that Türkiye is one of two countries that improved its energy intensity the most in the world for two consecutive years in 2021 and 2022.

While the global energy intensity improvement in 2022 was realized as %2 on average, Bayraktar explained that Türkiye's energy intensity dropped by 6.2% in 2022, showing a record development.

Türkiye started implementing its 2nd National Energy Efficiency Action Plan covering the years between 2024 and 2030.