Türkiye ranks 10th in global coal investments

Coal investment continues to be significant in Türkiye, which ranks 10th globally with 4.75 GW of new coal power projects, despite the worldwide decline in coal-fired power plant investments.

Despite global efforts to reduce fossil fuel use, some countries continue to invest in coal power plants.

Global decline in coal investment

In the fight against global warming and climate change, many countries around the world are trying to phase out fossil fuel sources such as coal. While 75 countries continued to invest in coal power plants in 2014, this number dropped to 40 in 2023. However, only the top 15 of these countries account for 98% of new coal investments.

Investments in coal power plants totaled 1,576 GW in 2014, but dropped by 62% to 604 GW by 2023. This decline reflects global efforts to move away from fossil fuels and shows that the transition from coal to renewable energy is gaining momentum.

Türkiye’s coal investments

Türkiye ranks 10th among these countries with a total of 4.75 GW of new coal power plant projects. Türkiye’s pre-construction and under-construction projects aim to commission 1.7 GW of new coal-fired power plants by 2030 under the National Energy Plan.

These projects include 1,000 GW in the pre-permit phase, 688 GW in the permitted phase, and 145 GW in the construction phase.

Türkiye’s energy policies

Türkiye’s investments in coal-fired power plants are in line with the country’s efforts to diversify its energy production. However, these investments have also sparked controversy over the environmental impacts of fossil fuel-based energy production.

While Türkiye is ensuring energy supply security by increasing renewable energy investments, its decision to continue coal-fired projects shows that different balances are being considered in its energy policies.

As the global energy transition accelerates, many countries are developing policies to reduce the use of fossil fuels. With its new coal projects, Türkiye is attempting to provide energy diversity in tandem with this transformation, but the extent to which it will follow global trends will become clear in the coming period.

China and India lead in coal investments

China and India are the main drivers of coal power plant investments. China alone accounts for 70% of global coal investments with 420.69 GW, while India has a 16% share with 97.32 GW. Indonesia, Bangladesh, and Zimbabwe follow these two countries.