Türkiye and China Sign $15 Billion Renewable Energy Deal
Türkiye and China signed a preliminary agreement to invest $15 billion in solar and wind energy projects during the COP31 climate summit in Antalya.
The Ministry of Energy and Natural Resources of Türkiye and the National Energy Administration of the People's Republic of China signed a preliminary agreement on November 12 to attract approximately $15 billion in renewable energy investment. The deal, finalized during the COP31 UN climate summit in Antalya, focuses on the development of solar and wind farms with a combined capacity of seven gigawatts, as well as electricity grid improvements and energy storage.
Energy Minister Alparslan Bayraktar stated that the cooperation includes technology sharing to support the domestic production of wind-turbine equipment. The agreement follows high-level talks between President Recep Tayyip Erdoğan and Chinese Vice President Han Zheng, who expressed readiness to encourage Chinese companies to invest in the region.
This partnership aligns with Türkiye's national energy strategy to increase solar and wind capacity to 175 gigawatts by 2040. Bayraktar estimates that achieving this transition will require a total investment of $300 billion.
