Türkiye announced on Thursday a significant boost in the country's thriving renewable energy sector, seeking to address climate change and shift to more clean sources by earmarking 7,500 megawatts (MW) of renewable capacity for industrial consumption this year.
Speaking to reporters, Energy and Natural Resources Minister Alparslan Bayraktar underscored the crucial role of renewables in mitigating foreign energy reliance and reducing the current account deficit.
Bayraktar said investments of $5 billion (TL 151.6 billion) would be realized as soon as possible.
The country witnessed a substantial addition of over 2,800 MW in renewable energy capacity installations last year, raising the share of renewables in electricity production to 42%. Earlier this week, the minister said in a statement that with the last additions the country's total renewable energy installed capacity has been elevated nearly fourfold in the last two decades to 59,236 megawatts.
He said the national goal of 5,000 MW of annual renewable energy additions "aligns with Türkiye's strategy to combat the current account deficit and climate change."
"The forthcoming period will see heightened energy investment in the country," he added.
"We have come to the end of a process in which we have been carrying out technical studies for a long time, and as of today, we are announcing 7,500 megawatts of renewable capacity for our industrialists to install for their own consumption," said Bayraktar.
In the context of the impending carbon border adjustment set for 2026, the minister urged manufacturers to reduce carbon emissions while stressing the pivotal role of renewable energy in this endeavor.
Bayraktar also addressed the current natural gas exploration in the Black Sea that is being conducted with three deep-sea drillships.
He highlighted the importance of these offshore activities and deemed that this year would be "a critical one" for natural gas production.
He explained that the country targets a rise in production levels in the Sakarya Gas Field, discovered in 2020, from the current production level of 2.7 million cubic meters (mcm) per day to 10 million cubic meters in the initial developmental phase and eventually to 40 million cubic meters in the subsequent phase.
"Our focus for 2024 is on enhancing offshore production and expanding drilling operations in the Black Sea. The year could also mark the advent of new discoveries," Bayraktar stated, setting an optimistic tone for Türkiye's energy future.