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Turkey plans to invest $125 billion into energy by 2023

Ali Riza Alaboyun
Investment   Energy demand in Turkey increases 7 percent per annum

Turkey plans to invest $125 billion into energy by 2023, as the country’s energy demands continue to increase tremendously, Turkish Energy Minister Ali Riza Alaboyun said.

“Energy demand in Turkey increases 7 percent per annum. To achieve this goal, Turkey is planning to invest $125 billion into the energy sector by 2023,” Alboyun said.

Turkey plans to roughly double its current 72,000 megawatt (MW) energy capacity to 130,000 MW by 2023, he noted, adding the country was planning to diversify its energy mix and was determined to reduce its dependency on natural gas for electricity generation.

“Although the share of natural gas in our installed capacity is 29 percent, its share in electricity generation is 48 percent. This is a clear indication of our dependency on natural gas to generate electricity.”

In renewable energy, wind power capacity today is 4,200 MW, while it will be 20,000 MW by 2023, according to the minister.

Turkey’s first nuclear power plant in the southern district of Akkuyu is planned to come online by 2022, with its second plant in the Black Sea province of Sinop following in 2023, said another Energy Ministry official at the summit.

The share of coal power plants in Turkey’s installed power capacity is 29 percent. Only 50 percent of this capacity belongs to the country’s own lignite, while the other 50 percent belongs to coal imported from other countries, said the minister.


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