Minister of Energy and Natural Resources Alparslan Bayraktar attended the COP31-IEA High-Level Energy Transition Dialogue meeting held as part of London Climate Action Week. The meeting, which was also attended by COP31 President and Minister of Environment, Urbanization and Climate Change Murat Kurum as well as ministers from various countries, was moderated by International Energy Agency Executive Director Fatih Birol.
In his speech, Minister Bayraktar explained that recent years have seen successive crises, including the Covid-19 pandemic, supply chain disruptions, trade wars, natural disasters, the wars in Ukraine and Iran, and the largest supply shock ever witnessed in oil and natural gas markets.
Pointing out that such regional conflicts are never confined to a single geography, Bayraktar said their consequences are felt across the global economy. Stating that the energy sector has been the most vulnerable sector in this process, Bayraktar noted that energy security has once again moved to the center of discussions.
Bayraktar said Türkiye's message is clear as it moves toward the COP31 Summit in Antalya, stating, 'Energy transition and energy security must advance together. A resilient future depends on cleaner, more diverse, highly interconnected and secure energy systems. Türkiye is ready to lead, cooperate and invest in our common future.'
Bayraktar explained that the world has entered the 'electricity age' with the sudden surge in consumption, noting that global energy demand grew by 1.3 percent last year.
Emphasizing that electricity demand increased at more than twice that rate, Bayraktar continued: 'This massive increase is being driven by electric vehicles, data centers, rising cooling demand and the rapid electrification of our modern economies.
A new market design is needed, one that is more aligned with today's harsh realities where energy security and climate action must go hand in hand, and one that is more resilient and more inclusive. We see this transformation as an opportunity. With this in mind, we have set out a clear vision for 2035.
Just two weeks ago, under the umbrella of the COP31 Presidency, we announced a major milestone: the target of raising the share of electricity in global final energy consumption to 35 percent by 2035. This ambitious target reflects a simple truth. The energy system of the future will be increasingly electricity-focused, digitalized and decentralized.'
Bayraktar stated that renewable sources today account for nearly two-thirds of Türkiye's installed capacity.
Recalling the plan to triple renewable energy capacity by 2035, Bayraktar said: 'To support this massive increase in renewables, we are also modernizing our national electricity grid through a groundbreaking 40-gigawatt HVDC (High Voltage Direct Current) transmission corridor, which will require an investment of approximately $30 billion.
These new conditions require smarter grids, more digitalized systems, greater storage capacity, stronger transmission and distribution networks, and a much higher rate of investment in flexibility and resilience.'
Minister Bayraktar stated that this new architecture, based on the world's new realities, compels them to take the entire value chain into account, saying, 'That is why we are positioning ourselves as a regional manufacturing hub for clean energy technologies, including solar panels, wind turbine components, advanced batteries and smart electrical equipment.'
Bayraktar emphasized that renewable energy technologies cannot be discussed without mentioning critical minerals, that securing access to these minerals is essential, but that merely possessing the resources is not enough.
Underscoring that Türkiye can play a critical role in this area as well, Bayraktar said, 'To overcome this challenge, we are actively cooperating with technology-driven countries and leading firms. The most reliable and cleanest energy is the energy not consumed. We plan to mobilize $20 billion in investment for energy efficiency by 2030.'
