Istanbul: The Istanbul Renewable Energy Summit kicked off in Istanbul on Friday. In his opening address, Turkish Minister of Energy and Natural Resources, Alparslan Bayraktar, emphasized that renewable energy will play a pivotal role in the energy transition, noting Turkey’s significant potential in solar, wind, hydroelectric, and geothermal energy.

According to National Iraqi News Agency, Bayraktar pointed out that recent global developments and rising oil and gas prices underscore the continued importance of energy security during the energy transition. He added that Turkey is working to rapidly increase its installed renewable energy capacity and build an electricity infrastructure capable of integrating larger quantities of variable renewable energy production.

He stated that access to affordable, long-term climate finance is crucial for developing economies, particularly Turkey.

Bayraktar explained that Turkey’s energy transition is based on achieving three interconnected goals: ensuring energy security, reducing dependence on imported energy, and fulfilling climate commitments.

The Turkish Energy Minister stressed that the energy transition is not merely an environmental issue, but is also linked to energy security, economic development, and industrial competitiveness.

The Istanbul Renewable Energy Summit is part of the preparatory meetings for the United Nations Climate Change Conference (COP31), scheduled to be held in Antalya, southwestern Turkey, from November 9 to 20.