The World's #1 Renewable Energy Network for News, Information, and Companies.

Turkey Sees 'Huge' Clean-Energy Investment as Demand Bucks Trend

Turkey Sees 'Huge' Clean-Energy Investment as Demand Bucks Trend

Turkey expects "huge" investments in renewable power in the next 10 years as growth in energy demand outpaces economic expansion, a government official said.

Turkey needs to spend $10 billion on new power generation every year until 2023 to double capacity from the current 55 gigawatts, Deputy Energy Minister Hasan Murat Mercan said today at a conference in Vienna.

“We expect huge investments in the coming years” to fund projects in wind, solar, hydropower, biomass and geothermal energy, he said. “Investing in renewables is one of the most important aspects” of supporting economic growth, he said.

Turkey, which depends on fossil-fuel imports for about 90 percent of its energy needs, has lured international investors including General Electric Co. and Siemens AG to its power industry as the regulator forecasts annual demand growth of 6.3 percent in the next two decades. The country is bucking the trend of most emerging European nations, where retail electricity consumption is trailing growth in incomes.

GE, which has already opened the 22.5-megawatt Sares wind farm and 10-megawatt Karadag site, said in November it would also supply turbines to Fina Enerji Holding AS for 97 megawatts of projects. Siemens said in October it would supply turbines to a 50-megawatt wind farm and expects more Turkish orders.

Turkey has potential to install about 40,000 megawatts of wind-power capacity at onshore projects, with 11,000 megawatts already licensed, Mercan said today.

While economic growth fell to 1.6 percent in the third quarter, Turkey forecasts 4 percent growth in 2013, compared with a 0.2 percent contraction in the euro area, based on International Monetary Fund projections.

Copyright 2013 Bloomberg

Lead image: Turkey map via Shutterstock

RELATED ARTICLES

Wind turbines

Why It's Time To Get Real About Energy Security

Hannah Smith, Contributor Energy is Europe’s quiet crisis. While the clamour of failing economies, desperate migrants and political clashes grabs the headlines, energy policy is rarely front-page news, but it should be — the statistics are shocking.

Largest Solar Farm in Virginia Just Commissioned by Amazon Web Services

Renewable Energy World Editors Back in 2012, Amazon received a failing grade from Greenpeace regarding its use of renewable energy to power its cloud centers. Skip a couple years and in 2014 Amazon Web Services (AWS) announced a goal of achiev...

A Closer Look at Fossil and Renewable Energy Subsidies

Susan Kraemer, Contrubutor A new study by the International Monetary Fund puts the total cost of fossil fuel subsidies at approximately $10 million a minute globally, when health costs and environmental degradation are included, never mind the effec...

How to Win Planning Permission for Renewable Energy Projects (and Influence People)

Tildy Bayar, Contributor At Tuesday afternoon’s POWER-GEN Europe and Renewable Energy World Europe conference session in Amsterdam, Paul Davison of PR firm Proteus discussed how to best communicate with the public regarding renewable ene...

CURRENT MAGAZINE ISSUE

Volume 18, Issue 3
1505REW_C11

STAY CONNECTED

To register for our free
e-Newsletters, subscribe today:

FEATURED PARTNERS



EVENTS

Microgrid Global Innovation Forum

Microgrid Global Innovation Forum  This event brings together thoug...

Grid Edge Live

Grid Edge Live 2015 The impressive two and a half day agenda addresses k...

GRC Fieldtrip - Geothermal Direct Use Tours of the Peppermill Resort

Located at the north end of the Moanna Hot Springs thermal anomaly, the ...

COMPANY BLOGS

Signing a Solar Lease? Here are Five Things You Need to Know

Solar leases have grown in popularity, and they continue to be one of th...

DIY: Don’t Install Yourself

You finally made the choice to go solar. Seems like it might be pretty e...

Capturing Your Prospects' Attention In Three Sentences

You have about 15 seconds to capture your prospects’ attention, wh...

SOCIAL ACTIVITY

Tweet the Editors! @megcichon @jennrunyon

NEWSLETTERS

Renewable Energy: Subscribe Now

Solar Energy: Subscribe Now

Wind Energy: Subscribe Now

Geothermal Energy: Subscribe Now

Bioenergy: Subscribe Now  

 

FEATURED PARTNERS