China to encourage investment in Turkish renewable energy with $15bn solar and wind deal

Detailed summary

Türkiye wants to sharply expand solar and wind power by 2040 and is seeking foreign investment to fund the work.

Türkiye signed a preliminary agreement with China on Thursday (12 November) aimed at attracting around $15 billion (€13.5bn) in investment in solar and wind projects, its energy minister said.The agreement was signed at the COP31 UN climate summit in Antalya. It covers plans for solar and wind farms with a combined generating capacity of seven gigawatts, alongside energy storage and improvements to the electricity grid.Energy Minister Alparslan Bayraktar said the cooperation would also involve sharing technology to support the production of wind-turbine equipment in Türkiye.The announcement gave no timetable for the projects or details of how they would be financed.China to encourage…

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