- Turkey and China signed an MoU enabling about $15 billion in Chinese investment in Turkish renewable energy projects.
- Agreement targets development of 7,000 MW of solar and wind, new energy storage systems and 4,000 MW of transmission capacity.
- Officials say the cooperation will expand Turkey's renewable capacity and support long term energy strategy goals.
- MoU includes technology transfer and support for producing wind turbine equipment in Turkey, boosting domestic industry.
- Turkey aims for 77 percent renewables in installed capacity by 2040 and to nearly quadruple wind and solar to 175 GW.
Turkey and China on Thursday signed a memorandum of understanding paving the way for about $15 billion in Chinese investment in renewable energy projects in Turkey, the Turkish energy minister said.
The two countries’ energy authorities signed the deal on the sidelines of the UN climate conference in the southern Turkish province of Antalya.
Under the agreement, which envisages roughly $15 billion in investment, the two sides aim to develop 7,000 megawatts (MW) of solar and wind power capacity, new energy storage systems and 4,000 MW of electricity transmission capacity, Energy Minister Alparslan Bayraktar said on X.
Bayraktar said the cooperation would help expand Turkey’s renewable energy capacity.
“It will also enable technology transfer, support the production of wind turbine equipment in Turkey and make a significant contribution to the development of our domestic industry,” he added.
Turkey aims to raise the share of renewables in its installed power capacity to 77 percent by 2040 under its long-term energy strategy.
As part of that target, the country’s combined wind and solar capacity is set to nearly quadruple to 175 gigawatts (GW) from 45 GW currently.
