Energy Efficiency

Turkey preparing USD 11 billion for energy efficiency by 2023

Turkey USD 11 billion energy efficiency 2023

Photo: Konevi from Pixabay

Published

March 5, 2021

Country

Comments

0

Share

Published:

March 5, 2021

Country:

Comments:

0

Share

Turkey plans to lower its primary energy consumption by 14% and annual carbon dioxide emissions by 66 million tons, Deputy Minister of Energy and Natural Resources Alparslan Bayraktar said and revealed nearly USD 11 billion would be invested in energy efficiency by 2023.

The capacity of wind power plants in Turkey reached 9 GW compared to 7 GW in photovoltaics, Deputy Minister of Energy and Natural Resources Alparslan Bayraktar said at video conference Global Energy Transition and Turkey’s Energy Roadmap. In his words, the average rate of increase in renewables was 11% in the past ten years and the country plans to add 1 GW of both wind and solar every year in the next decade.

“We also have a very ambitious energy efficiency program. It includes different sectors: energy, industry, agriculture, transportation, cross-cutting sectors, buildings…” he stressed and added the government plans to invest almost USD 11 billion in the segment. In the deputy minister’s words, it would lower primary energy consumption by 14% and cut annual carbon dioxide emissions by 66 million tons.

The event was organized just ahead of today’s World Energy Efficiency Day.

Urgent action needed for decarbonization

The COVID-19 outbreak affected the energy sector amid a global economic crisis, Bayraktar stated. “The decline in energy investment eventually brings real risk to energy security and sustainability… To prioritize transformation of the global energy sector from fossil-based to zero carbon by the second half of this century and to reduce energy-related CO2 emissions, which we call decarbonization of the energy sector, requires urgent action on a massive scale,” he asserted.

The decline in energy investment eventually brings real risk to energy security and sustainability

The expansion of renewables is an essential part of Turkey’s energy transition, Bayraktar said and added the country ranks sixth in Europe and thirteenth in the world in the capacity of green electricity. However, he also highlighted the need to secure gas for the industry and households and also for power generation.

Role of gas

Natural gas is also crucial for Turkish energy markets, as well as the economy in general, according to the deputy minister. He pointed to the discovery of the Sakarya gas field, containing 400 billion cubic meters of the fuel, saying it would reduce the import bill and the current account deficit.

Bayraktar noted the share of liquefied natural gas (LNG) rose from 22%, registered in 2018, to 31% last year.

Comments (0)

Be the first one to comment on this article.

Enter Your Comment
Please wait... Please fill in the required fields. There seems to be an error, please refresh the page and try again. Your comment has been sent.

Related Articles

Western Balkans GEFF Award Ceremony_September 28_Announcement

EBRD to present results of Energy Efficiency Financing Programme for Western Balkans

21 September 2021 - An online presentation of the GEFF Programme results and the announcement of further investments in the green economy’s housing sector will be held on 28 September 2021, via the Balkan Green Energy News portal.

smart-meters-ebrd

EBRD signs EUR 40 million loan for Serbia’s smart metering roll-out

15 September 2021 - The EBRD is extending a EUR 40 million loan to help Serbia procure and deploy 205,000 smart electricity meters in three cities.

Secure your spot registration EU Sustainable Energy Week EUSEW

Secure your spot – registration for EU Sustainable Energy Week is open

13 September 2021 - The digital Policy Conference of EU Sustainable Energy Week – EUSEW 2021 will take place online between October 25 and 28

Media Galaxy

Energy market is changing – we’ll buy electricity in department stores

31 August 2021 - The business models that the energy industry maintained for decades are being rapidly altered as customers can now buy power in supermarkets