Turkey's Bold Renewable Energy Strategy: Aiming For 120GW By 2035

Türkiye's newly released Renewable Energy Strategy for Energy Transformation in 2035 aims to significantly boost the country's solar and wind energy capacity to 120GW, quadrupling the current installed capacity of 30GW. Energy and Natural Resources Minister Alparslan Bayraktar emphasized that to achieve this goal, at least 7.5 to 8GW of renewable energy installations will need to be added annually, supported by over $80 billion in investment.

As of September 2024, Türkiye's renewable energy landscape includes 18.7 GW of solar energy, 12.4 GW of wind energy, and 32.2 GW of hydropower, contributing to 59% of the country's total electricity generation. An additional 69.6GW of projects have already received approval, which includes 43.5GW of solar and 26.1GW of wind energy.

To facilitate these ambitious targets, Türkiye plans to initiate bids for at least 2GW of installed capacity each year through the National Renewable Energy Resources Area (YEKA) project. The Ministry of Energy has also committed to shortening the project approval process from 48 months to under two years to accelerate construction timelines. In 2024, Türkiye will begin bidding for 1.2GW of wind power and 800MW of photovoltaic capacity, with the 800MW solar project set for tender on November 4, 2024. Successful bidders will benefit from market pricing freedom for the first 60 months, with a benchmark electricity price of 4.95 cents per kilowatt-hour, alongside procurement guarantees for the next 20 years to ensure price stability.

In terms of local manufacturing, Türkiye plans to enhance its support for the production of photovoltaic equipment, from silicon ingots to modules. Since 2014, the number of major equipment manufacturers has surged from 9 to 150, and the number of suppliers has grown from 18 to 350 by 2024. This strategy not only aims to bolster renewable energy capacity but also to strengthen the domestic manufacturing sector, promoting economic growth and energy independence.