Minister Bayraktar: Renewable Energy Investments Will Continue

Minister Bayraktar: Renewable Energy Investments Will Continue

The Minister of Energy and Natural Resources Alparslan Bayraktar stated that the criticisms regarding Turkey's mining fields are not correct, saying, "We have managed to cancel approximately 97 thousand licenses. The area excavated across Turkey is only 783 square kilometers, which is %0.1," he said.

Turkey's Mineral Wealth and Import Situation

Bayraktar emphasized that Turkey is still a net importing country, stating, "We have the 7th largest mineral wealth in the world." He noted that leaving minerals underground would not contribute to the economy and added that they passed a historic mining law this year.

Employment and Budget Goals in the Energy Sector

Emphasizing that the energy sector in Turkey employs approximately 407 thousand people, Minister Bayraktar announced that they aim for an annual investment of 200 billion lira in the 2026-2030 tariff period.

Renewable Energy and Climate Goals

Bayraktar pointed out that in 2023, savings of 11 billion dollars were achieved from solar and wind energy, stating that projects with a capacity of 8-10 thousand megawatts should be implemented each year. He mentioned that 80 billion dollars are planned to be invested in solar and wind projects within the next 10 years.

Nuclear Energy Investments and LNG Production

Minister Bayraktar emphasized that nuclear energy investments are crucial for achieving climate goals. He also noted that the LNG production capacity has been increased from 32 million cubic meters to 161 million cubic meters.

Rare Earth Elements and Black Sea Drilling Activities

Turkey aims to be among the top five countries in the world regarding rare earth elements. Bayraktar also highlighted that Turkey has 6 deep-sea drilling vessels, aiming to increase gas reserves in the Black Sea.