ELDER aims to create a $50 billion green financing agenda at the COP31 summit

Turkey's target to increase the share of electricity in final energy consumption to 35 percent by 2035 makes large-scale investments in electricity distribution networks mandatory. Stating that annual grid investments will exceed $4 billion due to the increasing capacity need, Electricity Distribution Services Association (ELDER) Secretary General Fakir Hüseyin Erdoğan pointed to the COP31 summit to be held in Antalya on November 9-20 for the financing of this transformation.

In Turkey, 21 electricity distribution companies serve 52 million consumers with a line length exceeding 1.6 million kilometers and more than 573 thousand transformers. While $20 billion of investment has been realized in the sector since 2013, $11.9 billion of this was made in the last 5 years. While elements such as solar power plants, electric vehicles, and data centers increase the load on the grid, electricity consumption is projected to reach 510 terawatt-hours by 2035.

ELDER will organize a session titled "The Role of Grids in Energy Transition: Investment and Financing" within the scope of COP31 on November 10. Fakir Hüseyin Erdoğan stated that they are going to the summit with a $50 billion grid investment agenda and that they will argue that investments to be made in distribution grids should benefit from international green financing mechanisms. In addition, the National Smart Meter System transformation, which started on March 1, 2026, is expected to contribute to the digitalization process of the grid.