Minister of Energy and Natural Resources Alparslan Bayraktar announces $100 billion investment

Minister of Energy and Natural Resources Alparslan Bayraktar announced that an investment of approximately $100 billion is foreseen for the modernization of electricity transmission and distribution infrastructure.

Minister of Energy and Natural Resources Alparslan Bayraktar shared Turkey's energy transition goals at the 1st Innovation, Dissemination and Entrepreneurship Days Organization in the Electricity Distribution Sector. Minister Bayraktar announced that the launch of the 'National Energy 2040' vision will take place in Istanbul on November 5, stating that within this scope, an investment of approximately $100 billion is foreseen for the modernization, digitalization, and enhancement of the cybersecurity of electricity transmission and distribution infrastructure.

Bayraktar emphasized that making grids smart, flexible, and resilient is of critical importance due to the widespread adoption of electric vehicles and the increasing electricity demand of the industry. Furthermore, it was stated that energy transition and grid investments will be one of the main agenda items at the COP31 summit, which Turkey will host in Antalya between November 9-20.