Stefan Nicola and Gelu Sulugiuc, Bloomberg
February 04, 2013
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1 Comments
Turkey expects "huge" investments in renewable power in the next 10 years as growth in energy demand outpaces economic expansion, a government official said.
“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
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February 14, 2013
http://www.bloomberg.com/news/2012-08-13/wasabi-finalizes-purchase-of-turkey-geothermal-power-project.html
Why that might be of interest here is that Wasabi (a tiny Australian penny stock) is trying to corner the market on low temperature geothermal utilizing the two fluid Kalina cycle.
Wasabi earlier bought the pioneer Kalina cycle Husavik power plant in Iceland that utilizes a trash-burning facility to add heat to tepid geothermal waters to squeeze out 3MW of power. As far as I could tell there wasn't a murmur of protest from Icelanders who idolize geothermal power and discourage outside investors in the more conventional geothermal power.
A small German power plant uses the Kalina cycle and is outside Wasabi's franchise.
Low temperature geothermal power is mostly outside the purview of even slighted geothermal power fans but greatly expands the reach and potential of geothermal power. Alaska, with by far the greatest conventional geothermal power potential of any state in the U.S. has only one low temperature plant producing power at record low temperatures and cost.
http://www.yourownpower.com/Power/
Best, Terry