Türkiye plans $300B in energy transition investment by 2040, energy minister says at COP31

Baku, November 10, AZERTACTürkiye plans to invest approximately $300 billion in its energy transition by 2040, with electrification and energy efficiency expected to generate $240 billion in cumulative savings, Energy and Natural Resources Minister Alparslan Bayraktar said Tuesday at COP31.“We estimate that approximately 300 billion dollars will be needed for this transition by 2040,” Bayraktar said during a panel titled "Architecting Energy Transitions in a Shifting Global Landscape" at the COP31 climate conference in Antalya.He said achieving Türkiye's energy goals would require substantial investment, strong partnerships, innovative technologies and a predictable investment environment to mobilize the necessary capital.“Implementation is the key to success,” he added. “We have set targets, we have given words, but it is now the time to implement those.”Bayraktar said Türkiye was determined to contribute to regional and global energy security while strengthening its domestic energy i