Türkiye's Bayraktar Says Grid Needs $80 Billion Investment by 2040

Türkiye's Energy and Natural Resources Minister Alparslan Bayraktar said on Friday that the country needs about $80 billion in electricity-grid investment through 2040. EconoTimes reported, citing Anadolu Agency, that the money would connect additional renewable generation and expand cross-border power trade. Bayraktar spoke on the final day of the 19th Verona Eurasian Economic Forum in Istanbul, according to EconoTimes.

Key numbers

• $80 billion — grid investment Türkiye needs through 2040, per EconoTimes, citing Anadolu Agency
• more than 62% — share of Türkiye's installed electricity-generation capacity from renewable sources, per EconoTimes and Menafn; TRT World wrote "more than 62 percent"
• 43 gigawatts — combined wind and solar capacity, which EconoTimes said is exceeded; Menafn and TRT World said it has passed or exceeded that level
• nearly 70% — share of its energy needs that Türkiye imports, per EconoTimes; Menafn and TRT World wrote "almost 70%" and "almost 70 percent"
• 2 GW — new capacity the Renewable Energy Resource Area program aims to allocate each year, per Menafn and TRT World
• 20 GW — nuclear capacity Türkiye is targeting by 2050, per Menafn and TRT World

EconoTimes reported that Bayraktar said public resources alone would not be enough to deliver Türkiye's targets. He called for private capital and support from international financial institutions, as well as innovative financing mechanisms and stronger technology partnerships, according to EconoTimes. Menafn and TRT World likewise reported that he said delivering the required investment depends on mobilising private capital, international financial institutions and technology partnerships. Their reports said Türkiye will need substantial investment in its power networks to absorb more renewable capacity, improve resilience and expand cross-border electricity trade, but neither gave a dollar figure.

EconoTimes reported that Türkiye is working to strengthen energy connections with Azerbaijan, Georgia, Iraq, Syria, Lebanon, Jordan, Saudi Arabia, Bulgaria and Greece. Anadolu Agency, as cited by EconoTimes, described reducing import reliance as a strategic economic and national-security priority. Menafn and TRT World said Bayraktar pointed to Türkiye's position between energy-producing and energy-consuming regions and said Ankara wants to strengthen its role as a reliable link between regional markets.

Menafn and TRT World also reported that Türkiye plans its first offshore wind tenders in the first half of 2027. On nuclear power, they said Bayraktar told the forum that work continues with Russia's Rosatom to bring the first reactor at the Akkuyu Nuclear Power Plant online in the coming months. Menafn said the 4.8-GW plant is projected to supply about 10% of Türkiye's electricity demand once all four reactors run, while TRT World wrote "around 10 percent". Both said the nuclear target covers conventional reactors and small modular reactors.

Türkiye hosts the UN Climate Change Conference in Antalya next month, according to Menafn and TRT World. They reported that Bayraktar said the Turkish presidency will centre the agenda on implementation, turning pledges into investment, technology deployment and concrete results. He also rejected a one-size-fits-all approach to the energy transition and said Türkiye would advance a voluntary "35 by 35" global electrification pledge, which seeks to lift electricity's share of global final energy consumption to 35% by 2035, per Menafn.

The forum also examined financial connectivity. Russian Deputy Finance Minister Ivan Chebeskov said the Eurasian Economic Union has begun developing mechanisms to ease market access for investors and issuers, and that a separate mechanism for professional market participants is nearing completion, according to EconoTimes, Menafn and TRT World.