National Energy 2040 Is a Concrete Expression of Our Commitment to the Future

Minister Bayraktar attended the International Energy Agency (IEA) Energy Ministers’ Meeting held on the sidelines of the 31st Conference of the Parties to the United Nations Framework Convention on Climate Change (COP31) in Antalya.

Energy Security Is a Matter of National Security

Pointing to the succession of crises in recent years, Minister Bayraktar said: “The world is striving to ensure economic growth and energy security while also seeking to reduce emissions to meet climate targets. Today, more than ever, energy security has become a matter of national security.”

A Target of 175 Gigawatts in Solar and Wind

Stating that Türkiye believes the way forward lies in electrification, Minister Bayraktar recalled that he had announced the “National Energy 2040” vision the previous week.

“This plan sets out our long-term vision and provides a clear roadmap for the transformation ahead. We will shift our growing energy demand away from oil and natural gas towards electricity. We aim to increase our installed capacity from approximately 128 gigawatts today to 281 gigawatts by 2040. More importantly, 175 gigawatts of this capacity will come from solar and wind. We will increase the share of renewables in total installed capacity from 63 per cent today to 77 per cent by 2040. We also aim to bring 10 gigawatts of nuclear power capacity online as an indispensable component of a balanced, reliable and low-carbon energy system,” he said.

Deepening Regional Energy Cooperation

Minister Bayraktar noted that the energy system of the future requires flexibility, storage capacity and stronger interconnected grids.

“Our plan therefore includes 40 gigawatt-hours of battery storage capacity and 15 gigawatts of cross-border electricity interconnection capacity. These investments will enable us to integrate high shares of renewable energy into our system, strengthen the resilience of our energy system and deepen regional energy cooperation,” he said. Minister Bayraktar also underlined that energy efficiency is another key pillar of Türkiye’s vision.

USD 240 Billion in Savings

Minister Bayraktar stated that the National Energy Efficiency Action Plan, announced two years ago, aims to mobilise USD 20 billion in investment between 2024 and 2035. “We expect our energy efficiency measures, together with electrification, to deliver cumulative savings of USD 240 billion for our country by 2040,” he said.

An Investment Requirement of Approximately USD 300 Billion

Emphasising that this transformation requires substantial investment, Minister Bayraktar said: “We estimate that approximately USD 300 billion in investment will be needed for this transformation by 2040. This represents an enormous responsibility, but also a tremendous investment opportunity. To mobilise the capital required, we need strong partnerships, innovative technologies and a predictable investment environment.”

Türkiye Is Determined to Play an Active Role in This Transformation

Highlighting the particular importance of this year’s COP31 theme in this context, Minister Bayraktar said:

“Implementation is the key to success. We have set our targets, made our pledges and outlined our commitments. Now it is time to deliver.

“As Türkiye, we are determined to play an active role in this transformation. We will do so not only by strengthening our own energy infrastructure, but also by contributing to regional and global energy security.

“I believe the future of energy will be shaped by countries that can combine ambitious targets with realistic and pragmatic policies, robust infrastructure and, of course, effective and comprehensive international partnerships. National Energy 2040 is a concrete expression of our commitment to that future.”