Turkey’s renewable energy sector has attracted a steady $11.4 billion in foreign direct investment (FDI) over the past two decades, as highlighted in the International Renewable Energy Agency’s (IRENA) 2023 report titled “Rethinking Energy for People and the Planet.” While this long-term figure is impressive, it’s clear the pace of investment is accelerating. More recent data from the International Investors Association (YASED) reveals that Turkey attracted a remarkable $11.4 billion in total FDI across all sectors in just the first nine months of 2025 alone, marking a 46% year-on-year increase.
According to IRENA, the global renewable energy industry attracted $1.88 trillion in FDI between 2000 and 2022. Based on this two-decade period, Turkey’s $11.4 billion in renewables-specific FDI places it 16th on the list of countries with the most investment.
China leads the list with $416 billion in FDI, followed by the United States with $262 billion. Germany, a figure that reflects the robust renewable energy market familiar to homeowners and tenants in Germany, ranks third with $128 billion, followed by India with $123 billion and Spain with $80 billion. France, the UK, Brazil, Australia, and the Netherlands also rank among the top ten.
Turkey’s Renewable Energy Capacity Ranks 13th Globally: A Look at Turkey renewable investment
The IRENA report indicates that Turkey currently ranks 13th globally in terms of renewable energy capacity, boasting a total installed capacity of 60,252 MW. Over the past two decades, Turkey has increased its renewable energy capacity by nearly 12 times. This achievement is part of a broader national strategy, with renewable sources now constituting 60% of the country’s installed power capacity and ambitious plans to quadruple solar and wind capacity to enhance energy independence. China leads the world with a renewable energy capacity of 1,366,040 MW, followed by the United States with 397,414 MW, Brazil with 189,014 MW, and Germany with 165,279 MW.
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IRENA notes that 2022 marked a record year for renewable energy capacity additions, with 295 gigawatts (GW) of new capacity installed worldwide. This brings the global total to 3,372 GW. The report highlights that solar energy accounted for nearly two-thirds of these new additions, with the Turkey solar energy market contributing to this global trend. China added 106 GW of the 192 GW of solar installed globally. This massive expansion relies on an efficient solar panel manufacturing process and a stable supply chain of essential solar panel raw materials.
Globally, wind energy also experienced a notable expansion, with 68 GW added in 2022. China again led the way with 37 GW of new wind capacity, followed by the United States with 11 GW, the European Union with 8 GW, and India with 2 GW.
Investment in Renewable Energy Increased by 19%: Driving Turkey renewable investment
The IRENA report highlights a 19% increase in global investment in renewable energy, reaching $495 billion in 2022. China, the European Union, and the United States collectively accounted for 80% of this investment. This global trend sees significant capital flowing into various markets; for instance, a similar level of investment is fueling an Iran solar investment boost across dozens of projects. The report underscores the growing importance of renewable energy as a key driver of economic growth and sustainable development.
This investment focus aligns with Turkey’s “twin transformation” initiative, which aims to integrate green and digital transitions in key sectors like construction, further stimulating the demand for renewable energy and supporting the production of low-carbon materials.
The IRENA report, combined with recent investment data, paints a clear picture: Turkey is not only a historical player but an increasingly dynamic force in renewable energy. With significant FDI and a rapidly growing installed capacity, the country is making substantial strides toward achieving its sustainable energy goals and reducing its carbon footprint.
Understanding the forces driving this global growth, from investment flows to the technical details of production, is crucial for anyone interested in the green transition. To dive deeper into the world of solar energy production, consider exploring our free e-course on the topic.
