Turkey Signs $15 Billion Energy Deal with China on Sidelines of COP31

Turkey signed a memorandum of understanding with the National Energy Administration of the People's Republic of China on the sidelines of the COP31 conference in Baku, with investments estimated at about $15 billion.

Minister of Energy and Natural Resources Alparslan Bayraktar announced that the agreement includes the construction of solar and wind power plants with a total capacity of 7,000 MW, new energy storage systems, as well as electricity transmission infrastructure with a capacity of 4,000 MW. Bayraktar added that the cooperation "will contribute to technology transfer and the manufacturing of wind turbine equipment inside the country," stressing that it will not be limited to raising their renewable energy capacity alone.

On the sidelines of the same conference, the Turkish nuclear energy company TÜNAŞ concluded an agreement with Canada's Candu Energy Inc., a subsidiary of AtkinsRealis, stipulating the conduct of feasibility studies and preliminary engineering design for a CANDU reactor in Turkey, along with assessment of the site, financing, scheduling and human resources development.

In a separate meeting within the COP31 events, Bayraktar met with Venezuelan Minister of Hydrocarbons Paula Inyao Vera to discuss joint projects in the oil and natural gas fields and the development of trade in the energy sector. The minister noted the continued expansion of the partnership with Libya in this field.