Türkiye has signed a preliminary agreement with China aimed at attracting approximately $15 billion in investment for solar and wind energy projects, as the country seeks to accelerate its energy transition and expand cooperation with Chinese businesses.
Signed on Thursday at the COP31 climate summit in Antalya, the agreement outlines plans for renewable energy projects with a combined capacity of seven gigawatts. The proposed cooperation also covers energy storage and upgrades to Türkiye’s electricity grid.
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Agreement Includes Technology Sharing And Local Production
Türkiye’s Energy Minister Alparslan Bayraktar said the partnership would involve technology-sharing to support domestic production of wind turbine equipment. The initiative is intended to strengthen local industrial capabilities alongside the development of new renewable energy capacity.
However, the announcement did not specify when construction would begin or how the projects would be financed. These details will determine how quickly the preliminary agreement can translate into investment and additional generating capacity.
China Seeks Greater Investment Opportunities In Türkiye
The agreement followed a meeting on November 11 between Turkish President Recep Tayyip Erdoğan and Chinese Vice President Han Zheng on the sidelines of the summit.
According to China’s state news agency Xinhua, Han said Beijing was ready to encourage more Chinese companies to invest in Türkiye, identifying renewable energy as an area with potential for closer cooperation.
Türkiye had approximately 43.8 gigawatts of installed solar and wind capacity at the end of September, accounting for just over one-third of its total electricity-generating capacity, according to the country’s energy ministry.
Türkiye Targets 175 Gigawatts Of Solar And Wind Capacity By 2040
Under its national energy strategy, Türkiye aims to increase its combined solar and wind capacity to 175 gigawatts by 2040. The plan forms part of a broader effort to shift energy consumption away from oil and gas towards electricity.
Achieving that target will require not only new renewable generation facilities but also stronger grid infrastructure and energy storage systems to manage fluctuations in solar and wind power production.
Speaking at the summit on November 10, Bayraktar said Türkiye would need approximately $300 billion in investment for its energy transition by 2040. He stressed that international partnerships and predictable investment conditions would be important in securing the capital required.
The proposed agreement with China could contribute to that ambition, although its impact will depend on whether the planned projects progress from preliminary commitments to funded and scheduled developments.
