Türkiye’s Ministry of Energy and Natural Resources has announced plans for about TRY600bn (US$20bn) of energy efficiency investment by 2030 through collaboration between the public and private sectors, as it aims to achieve energy savings and curb CO2 emissions. The proposed action plan is intended to reduce Türkiye’s energy consumption by 16% by 2030 and contribute to an emissions reduction of 100 MtCO2eq. Through the investment, the Turkish Government also aim to save US$46bn worth of energy by 2040.
The new energy efficiency initiative is also designed to boost energy supply security and to reduce the country’s dependence on foreign energy resources. Türkiye will notably invest US$700m to save 30% of energy in public buildings by 2030 and over US$3bn worth of investments by 2030 to make existing residences, new buildings and areas undergo a more efficient urban transformation.
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