Turkey’s solar power production became the sixth biggest electricity resource with a yearly increase of 175 percent to 2.8 million megawatt-hours in 2017
Turkey launched Renewable Energy Resource Zone Project (YEKA) tenders for 1,000 MW of solar capacity in 2017
Turkey to Invest $110 Billion in the Energy Sector by 2023, including $46 Billion in New Solar, Wind and Hydroelectric Power Plants, Creating an Opportunity for Italian Businesses
The Ministry of Energy and Natural Resources (MENR) aims to increase the nation’s installed solar and wind energy capacity by 10,000 MW annually in 10 years.
Increased demand for smart grid systems in Turkey, including Smart City projects, with investments in transmission and distribution lines expected to amount to $8.1 billion.
MILAN, June 18, 2018—The installed power capacity of solar power increased form 939 MW to 2,978 MW year on year, representing a 217 percent rise according to the data recently released by Turkey’s Energy Market Regulatory Authority (EMRA). Turkish solar market has further potential and represents a business opportunity also for the foreign Countries looking to its numbers – 46,000 MW currently installed, 175% solar power production increase in 2017, 1,1 billion the square meters roof space covering.
Moreover Turkey intends to double its investment in the energy sector to reach $110 billion by 2023, including $46 billion in new solar, wind and hydroelectric power plants. The pledge is part of the country’s commitment to energy efficiency and its priority to increase the share of renewable sources in its total installed power to 30%.
Turkey has become one of the fastest-growing energy markets and attractive investment destinations in the world, much due to the success of its privatization of power distribution, a government-backed program that began in 2002. To satisfy the increasing energy demand domestically, the country is working to increase its installed electricity capacity to 120 GW by 2023 (currently at 80 GW) through increased investment in the private sector and the encouragement of commissioned projects by both domestic and foreign suppliers to provide sustainable and reliable energy to its people. The participation of private entities in the industry, especially those of Italian origin, have significantly contributed to the increased competitiveness of the Turkish energy market.
Turkey’s vision for 2023 includes the following targets for the energy sector:
-Raising the total installed power capacity to 120 GW
-Increasing the share of renewables to 30 percent
-Maximizing the use of hydropower
-Increasing the installed capacity based on wind power to 20,000 MW
-Installing power plants that will provide 1,000 MW of geothermal and 5,000 MW of solar energy
-Extending the length of transmission lines to 60,717 km
-Reaching a power distribution unit capacity of 158,460 MVA
-Extending the use of smart grids
-Raising the natural gas storage capacity to more than 11 billion m3
-Commissioning nuclear power plants (two operational nuclear power plants, with a third under construction)
-Increasing the coal-fired installed capacity from the current level of 17.3 GW to 30 GW
Not only does Turkey have a huge domestic market, but the country is also a strategic location between a number of major energy consumers and suppliers, thus serving as a regional energy hub in Europe. The existing and planned oil/gas pipelines, the critical Turkish straits, and promising finds of hydrocarbon reserves within the country itself give Turkey increased leverage over energy prices and reinforce its gateway status.
“Opportunities for renewable forms of energy production, such as solar, wind, hydro and geothermal, are abundant in Turkey, and encouraging policies backed by favorable feed-in tariffs are expected to increase their share in the national grid in the coming years”, says Mehmet Büyükeksi Chairman of TIM. There are successful Italian case history operating in Turkey, like for example Turboden, Exergy, ENERRAY and Leitwind, that have signed important agreements with Turkish companies and can be a positive example of the great opportunities our country can offer in terms of business development”.
About Turkey Promotion Group (TPG)
Under the roof of Turkish Exporters’ Association, Turkey Promotion Group (TPG) was established in 12th August 2017, to unify all activities to promote Turkey, as well as Turkish products and services among global markets. TPG carries the mission to improve and spread ‘Turkey, Discover the Potential’ concept in