Türkiye in 2024 is strategically placed in a pivotal moment in the international energy market by virtue of its geographic proximity and expanding status as an energy hub.Türkiye designated 2024 as its “Renewable Energy Year,” as an important step in becoming energy sustainable. Solar capacity topped 10,000 megawatts (MW), which exemplified the nation’s interest in expanding its renewable energy resources. The achievement represents Türkiye’s commitment to lowering carbon emissions and diversifying its energy mix.Powered by projects such as the Energy Exchange Istanbul (EPIAŞ), active participation in the World Energy Council (WEC) and significant advancements in the field of natural gas exploration, Türkiye has emerged as a major player in the energy industry. But that stature has inherent risks associated with volatility in global markets and geopolitics.3 scenarios for 2050With 2024 as Türkiye’s energy success story, the prospects for 2050 reflect opportunities and risks.The first scenario is based on high renewable adoption. In 2050, Türkiye aims to provide 75% of its electricity production from renewable sources with a solar capacity of over 50,000 MW and wind capacity of over 30,000 MW. E-storage and smart grid investments are vital to the integration of large amounts of renewables. It’s a scenario that complies with global decarbonization targets and places Türkiye at the forefront of green energy exports. U.K. Export Finance (UKEF) and Poland’s export credit agency, KUKE, jointly guaranteed a 249 million euro loan ($260 million) being arranged by Standard Chartered Bank for Turkish renewable energy investment company Kalyon Enerji, enabling the construction of Türkiye’s second-largest solar project to date. Relatedly, this act shows that Türkiye will focus on more renewable – mainly solar – investments.If that does not come to fruition, Türkiye may also adopt a balanced energy policy. According to this scenario, although the focus is on renewable energy, Türkiye follows a balanced energy mix with renewables supplemented by natural gas and nuclear power. Akkuyu Nuclear Power Plant (NPP), which is expected to be operational by the late 2020s, will ensure stable, low-carbon electricity generation and a 30% reduction in gas imports via increased domestic production and regional pipeline infrastructure.The final scenario involves weak growth in renewable energy penetration through financing and regulatory obstacles. The dependence on fossil fuels is continuing to increase, leaving Türkiye vulnerable to volatile global energy prices. This situation would pose threats to Türkiye’s energy and climate targets.ESG for energy companies”Today’s decisions will determine the future of Türkiye’s energy,” said Energy and Natural Resources Minister Alparslan Bayraktar at a recent forum. “To secure a stable energy system, we need to focus on sustainability and innovation.”Environmental, social and governance (ESG) considera