Great Interest in 2035 Roadmap in Renewable Energy

Energy and Climate Dialogue

Minister Bayraktar met with journalists in London after his contacts with England. Answering the questions of the members of the press, Minister Bayraktar said that they had a very productive meeting with the UK Secretary of Energy Security and Net Zero Ed Miliband and said that a memorandum of understanding was signed between the two countries starting the Energy and Climate Dialogue.

2035 Road Map

Bayraktar underlined that it met with leading investors and representatives of financial institutions of the global energy sector within the scope of its contacts and reminded that it plans to increase its capacity in wind and solar energy from 30 gigawatts to 120 gigawatts in line with the 2035 roadmap in Renewable Energy. Bayraktar pointed out that investors and financial institutions showed great interest in Türkiye's plans and said, "I believe that we will bring great financing opportunities to our country in the coming period."

2 Billion GBP Financing

Stating that they plan to invest 108 billion dollars in line with the Renewable Energy 2035 Roadmap, Bayraktar stated that in this sense, the United Kingdom Export Finance Agency plans to provide financing of 2 Billion GBP to Türkiye and that they recommend projects in three basic areas for this. Bayraktar stated that the 24 thousand megawatt renewable energy capacity, offshore wind energy and Renewable Energy Resource Areas (YEKA) projects that the industry wants to establish are important in this context.

There May Be Different Models In SMR

Minister Bayraktar stated that they are considering different models on small modular reactors (SMR) used in nuclear energy and said that an issue expected to come to the Parliament will reach a legal framework and infrastructure. Pointing out that in addition to the purchase guarantee model, the private sector can also invest in this area, Minister Bayraktar stated that those who invest in this field can come out of the energy-intensive sectors that should reduce their carbon footprints.

Long-Lasting Relationship

Bayraktar noted that the energy relations between Türkiye and Russia lasted for many years, on a question about Gazprombank, which was used for payments made in natural gas exports, noted that the energy relations between Türkiye and Russia lasted for many years and said that Türkiye supplied oil and oil products from Russia before natural gas.

84 percent of Türkiye Goes Gas

Emphasizing that the natural gas side is more sensitive and important and that natural gas is a difficult product to substitute, Bayraktar pointed out that Russia is an important and safe supplier, and Türkiye is a safe and important market. Bayraktar said, "Gas trade should continue without causing a break." He stated that 84 percent of Türkiye went to natural gas with a 208 thousand kilometer line.

We Are Against Everything That Will Affect The Flow

Reminding that they use natural gas in industry and electricity production as well as households, Bayraktar said, "We buy a significant amount of this gas from Russia. We do not have the opportunity to substitute this in the short and medium term," he said. Bayraktar stated that they have taken many steps regarding the diversity of supply in natural gas, that they have invested heavily in the infrastructure for the purchase of LNG, and that they have increased it to 5 times for the gasification capacity, and said, "At the end of the day, there are many needs. We are against everything that will affect this flow," he said.

The Agreement May Be Extended

Regarding the transit agreement that provides the flow of Russian natural gas to Europe via Ukraine will end at the end of 2024, Bayraktar said, "This agreement seems to end on December 31, 2024, but when we come to that day, this agreement can somehow extend it. It would also be good for Europe to pay for that gas, but how will they pay for that gas to Gazprombank? A question mark. The extension of the agreement will be good in terms of prices and market. At this point, Turkiye is ready to do its part, but I think it can be extended," he said.