Türkiye can develop a new generation of joint energy projects with German partners in a broad spectrum from natural gas, green hydrogen, modern power grids to critical minerals, according to Energy and Natural Resources Minister Alparslan Bayraktar on Wednesday.
"Together with German partners, we can now realize a new generation of joint projects, ranging from natural gas and green hydrogen to modern power grids and critical minerals," Bayraktar said at the opening of the Türkiye-North Rhine-Westphalia Business Forum in Istanbul.
Speaking alongside Hendrik Wüst, the conservative leader of Germany's North Rhine-Westphalia state, and representatives of the business community, Bayraktar reaffirmed the strong foundation of the Turkish-German economic partnership, touched upon the developments in global energy markets and the potential to forge new partnerships.
Wüst, widely seen as a potential successor to the current German Chancellor Friedrich Merz, embarked on a visit to Türkiye earlier this week and already held talks with President Recep Tayyip Erdoğan and met Foreign Minister Hakan Fidan.
Bayraktar cited the Trans-Anatolian Natural Gas Pipeline (TANAP) and the Baku-Tbilisi-Ceyhan (BTC) crude oil pipeline as foundations for further cooperation between Türkiye and Germany.
These energy corridors help meet Türkiye's domestic energy demand while strengthening Europe's security of supply by providing additional routes and sources, Bayraktar said.
Financing gap in energy transition
He also said financing remained one of the most pressing challenges facing the global energy sector.
Citing the International Energy Agency (IEA), Bayraktar said global clean energy investment needed to exceed $4.5 trillion annually by the early 2030s to keep net-zero goals within reach.
Despite record levels of spending, investment remained below the level required, he added.
"Closing this massive financing gap requires bold action from international financial institutions, capital markets, private investors and governments," he said.
"This is where Germany's financial strength, capital support and risk-sharing in joint ventures can play a decisive role," he added.
"By combining Turkish project execution capability with German financial capabilities, we can turn ambitious transition targets into bankable, real-world assets."
Bayraktar also said Türkiye would unveil a more ambitious long-term renewable energy program, alongside higher grid investment and climate targets, when it hosts COP31 in Antalya later this year.
"We believe that German and Turkish companies will forge a new alliance in global competition by developing new partnerships across a broad spectrum, ranging from alternative routes to new technologies, and from grid modernization to energy efficiency," he separately said in a post on X.
"We remain firmly committed to supporting this strong partnership, which will make a significant contribution to both countries’ energy security and sustainable development. I hope that our meeting will give new momentum to the deep-rooted partnership between our two countries," he added.
Importance of German-Turkish energy ties
Speaking at the same event, Wüst said that the region's reliance on heavy and energy-intensive industries made energy prices and security of supply crucial to its economy.
"That is why the German-Turkish energy partnership is of great importance for us, more important than ever," he said, according to remarks published by Anadolu Agency (AA).
"North Rhine-Westphalia is an indispensable part of it," he added.
"We see that Türkiye, as one of Europe's largest onshore wind markets, is investing in its power generation and transmission infrastructure."
"Turkish ports and airports are becoming strategic assets," he added.
"We know that there are still many opportunities for investors and technology companies in our respective countries. The signing of today's MoU is proof of that."
Türkiye and North Rhine-Westphalia signed eight memorandums of understanding at the event.
Business forum, industrial connections
Saying there is a strong human bridge between Türkiye and Germany, Felix Neugart, CEO of German trade and investment agency NRW.Global Business, said Wednesday that more than a million people of Turkish descent live in Germany and that this relationship is reflected in investment, manufacturing and innovation.
Speaking at the forum, organized by the Foreign Economic Relations Board (DEIK) and NRW.Global Business, Neugart said: "There is no region in Europe, let me put it like this: There is no region in the world that has closer connections to Türkiye than North Rhine-Westphalia."
He said the relationship is built not only on trade, but also on companies that invest, manufacture, innovate and create jobs together.
Neugart said: "We are linked by long-standing industrial value chains. Türkiye offers dynamism, industrial capacity and a strategic global connection."
"We bring technological expertise and know-how, and we bring access to the huge European market, and this put together our strengths."
Together, Türkiye and Germany can advance the energy transition, he said, adding that the two countries can also develop more resilient supply chains.
"We can expand the logistics connectivity, and probably most importantly, we can turn innovation into shared business opportunities, and this is exactly what we want to discuss today,” he said.
Referring to speeches and panels at the business forum, Neugart said the signing of several memoranda of understanding was an important signal of the two countries’ shared determination to translate dialogue into lasting partnerships and concrete projects.
Nail Olpak, chair of DEIK, said North Rhine-Westphalia is one of Europe’s industrial heartlands and a natural partner for Turkish business.
Türkiye, with its strong manufacturing base, dynamic private sector and highly competitive companies, is deeply integrated into European and global value chains, Olpak stressed.