Turkey to invest $1 billion in renewable energy sources

By Azernews

By Kamila Aliyeva

Being an energy importing country Turkey strives to develop its renewable energy sources to reduce dependence on other countries. 

Turkey plans to invest $1 billion in renewable energy sources, Energy and Natural Resources Minister Berat Albayrak said.

A tender to be announced soon is expected to attract the world's leading companies in the field of wind power station construction.

The minister noted that the new power plants will increase the energy security of Turkey and reduce its dependence on other countries.

Albayrak also stressed that the new project of renewable energy sources will generate about 3,750 jobs.

Wind farms will be located in five regions of Turkey, including the capital - Ankara, he added.

Turkey's demand for energy and electricity is increasing rapidly and heavily dependent on expensive imported energy resources [around 70 percent] that place a big burden on the economy.

At the same time, Turkey is one of the richest countries in the world in terms of renewable resources – hydro, wind, solar, geothermal and others. For geothermal energy the country is ranked first in Europe and seventh in the world. In addition, the solar energy is abundant due to its geographical position in the world. Turkey is also one of the countries in the world possessing high hydroenergy potential. Wind energy potential in Turkey is estimated at 160 TWh.

Encouraging policies backed by favorable feed-in tariffs are expected to increase their share in the national grid in the coming years. The Turkish government has made it a priority to increase the share of renewable sources in the country’s total installed power to a remarkable 30 percent by 2023.