Türkiye aims to triple its electricity interconnection with neighboring markets and also boost power exports to nearby regions, Energy and Natural Resources Minister Alparslan Bayraktar said Monday.
"Soon, we are going to continue to increase our supply to Syria," with the hope of contributing to stability in the region and the country, Bayraktar said at the 15th session of the International Renewable Energy Agency (IRENA) Assembly in Abu Dhabi.
The country currently supplies electricity to Iraq, Bayraktar noted during the panel titled "Energy Transition Pathways in Emerging Economies."
Regional interconnections and cooperation are becoming increasingly crucial for enhancing stability and fostering mutual development, he added.
Türkiye is working to meet the growing demand and reduce import dependency while also aiming for carbon neutrality within the next three decades, he said.
Bayraktar emphasized that renewable energy is key to addressing these three challenges.
The country plans to expand its renewable energy capacity from 32 gigawatts (GW) to 120 gigawatts by 2035.
Achieving these goals will require an investment of around $80 billion (TL 2.84 trillion) and the development of a more resilient, robust grid, he added.
"We call it green grid. We will establish a kind of transmission 2.0 and need investment on the grid side of around $28 billion over the next decade or so," Bayraktar said.
Bayraktar stated that certainty and consistency in policies, along with creative business models, are essential to attract international financing. He also emphasized the need for closer regional cooperation.
"The grid is becoming increasingly crucial for this transition," he said and added: "To build a strong and resilient grid, regional integration and interconnectivity are key."
He noted that the country also has an ambitious and comprehensive energy efficiency program to meet its carbon neutrality goals.
Adding nuclear energy into the energy mix complements "our energy strategy," he said.
To achieve these goals, we must create a level playing field for energy investments and attract capital into our energy markets, Bayraktar said.
While international cooperation is required for a successful energy transition, Bayraktar emphasized the importance of incentivizing domestic producers and increasing local resources to create opportunities for medium and small enterprises.
