Bain Sees More Than $500 Billion Needed for Türkiye’s Energy Shift

Türkiye will need more than $500 billion in investment for its energy transition by 2053, according to a Bain & Company report published ahead of COP31. The report says rising renewable capacity has not yet translated into a comparable reduction in fossil-fuel use.

Renewables’ share of installed electricity capacity increased from 43% in 2015 to 62% in 2025, the report says. Their share of electricity generation remained at 43%, as increased coal-fired generation largely offset lower gas-fired output.

Bain says Türkiye added 6.8 gigawatts of wind and solar capacity in 2025, but needs annual additions of 8 to 9 gigawatts to meet its 2035 targets. The report estimates that $210 billion to $270 billion of the overall investment need would go to the energy sector.

The report also estimates investment needs of $80 billion to $200 billion for buildings, $70 billion to $80 billion for industry, $35 billion to $50 billion for road transport, and $25 billion to $40 billion for agriculture. It identifies access to long-term financing as a key obstacle, particularly for industry, buildings and transport.

Türkiye met about 69% of its energy needs through net imports in 2025, with an energy import bill of about $63 billion and a net energy trade deficit of $47 billion, according to the report. It says stronger power grids, more energy storage, industrial electrification and energy efficiency are needed alongside renewable generation.