$80 billion investment projected for electricity distribution networks by 2040
Elder Secretary General Fakir Hüseyin Erdoğan stated that the $80 billion investment in electricity distribution networks will reduce Turkey's energy imports. Speaking at COP31, Erdoğan emphasized the importance of favorable financing conditions for renewable energy integration.
Speaking within the scope of COP31 held in Antalya, Fakir Hüseyin Erdoğan, Secretary General of the Association of Electricity Distribution Services (Elder), announced that a total of $80 billion in investment is targeted for Turkey's electricity distribution networks by 2040.
Erdoğan stated that the sector has undertaken an investment obligation of $18.5 billion for the 5-year period starting from 2026. Reminding that $2.5 billion in investment was implemented last year, Erdoğan emphasized the need for favorable financing conditions, such as green financing packages, for the sustainability of these large-scale projects.
Stating that there are 52 million consumers and 36,000 production facilities connected to the distribution system, Erdoğan said that including more renewable energy into the system will increase energy independence. Among the shared data was the expectation that Turkey's total installed capacity will exceed 280,000 megawatts in 2040.
Sources
- sabah.com.tr · Link