- Turkey is set to add 120,000 MW of wind and solar capacity by 2035.
- An investment of $ 108 billion in an amount of which $28 billion is for infrastructure.
- 2,000 MW worth of renewable tender in pipeline next year.
- Turkey plans permit time cut for renewable projects.
Turkey looks to quadruple the capacity of wind and solar power at 120,000 MW by 2035-an investment sum of $108 billion. Bayraktar came in with the declarations at an event for the renewable energy roadmap, bringing efforts to step up investments and further regulatory improvements.
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Turkey plans to see a huge upscaling of wind and solar energy, up to 120,000 MW by 2035. For this purpose, the public and private sectors should invest in the sum of $108 billion, of which $28 billion will be required to upgrade the transmission infrastructure of the country, including transformers as well as high-voltage transmission lines and grids. That is how Energy Minister Alparslan Bayraktar has outlined details of Turkey’s roadmap to entering the top league in renewable energy.
It is one of the major roadblocks in increasing renewable energy production in Turkey: the process for securing permits is long, taking about four years to get the requisite permits. Bayraktar said that the government hopes to cut this down to two years, which will accelerate projects already at the pre-license or permission stage, adding up to 34,000 MW in capacity. The reforms are expected to attract more private sector interest as the investment process is eased.
Since 2005, Turkey has promoted the private sector in investing in renewable energy in a bid to reduce fossil fuel imports. Still, much investment needs to be made in renewable energy; installed capacity has reached 30,000 MW. Bayraktar also mentioned an imminent tender that will be issued to award 2,000 MW of wind and solar capacity at the beginning of the year. The tender will feature a new pricing scheme accompanied by long-term guarantees of electricity purchase that will make financing for investors easier.
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In the last 20 years, electricity consumption in Turkey has tripled, and within the next few decades, it will rise much faster. Long-term energy transformation in Turkey—toward power from renewable sources—is inevitable as the world continues to electrify and reduce dependence on fossil fuels. To meet this increasing demand, Turkey will have to continue investments in renewable sources and facility development.
Turkey has set an ambitious plan for renewable energy. It aims at increasing wind and solar capacity four times by 2035. The future energy landscape of the country is all set to change. Still, there are regulatory and financing hurdles that need to be crossed. However, future tenders and infrastructure investments are a strong commitment to accelerating this sector of renewable energy.
