2018 Energy Market Status & Developments in Turkey - Significant Opportunities in Geothermal Power - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Oct 8, 2018--The “Turkey: Energy Market Status And Development” report has been added to ResearchAndMarkets.com’s offering.
As of January 2018, Turkey has 81,555MW of licensed, 3,645MW of unlicensed, and installed capacity of 85,200MW in total. The installed power of the plants benefiting from the YEK support mechanism reached 19,266MW.
The Status of the Energy Sector in TurkeyTurkey’s energy demand has been growing rapidly in line with its economic growth with an increase in 46% between 2007 and 2016. Significant progress has been made in liberalising the energy market since 2013 with the introduction of the New Electricity Market Law and the Turkish Petroleum Law. The Government has set ambitious targets for 2023 including action plans on energy efficiency, renewable energy, nuclear energy and climate change. These targets are mainly to decrease dependency on energy imports and to address the vulnerability of the infrastructure to seasonal peaks in energy demand. The total investments required to meet Turkey’s expected energy demand in 2023 are estimated to amount to around USD 110 billion, more than double the total amount invested over the last decade.
DUBLIN--(BUSINESS WIRE)--Oct 8, 2018--Key FindingsThe main fossil fuel generation in Turkey is natural gas (27% of installed capacity) and coal (22% of installed capacity). 61.5% of installed electricity generation is owned by the private sector. Renewable energy is the greatest untapped power potential in Turkey and in particular there are significant opportunities in geothermal power. The Turkish energy market benefits from its geographical location in terms of its access to resource, but the power market is not immune to geopolitical and internal political challenges. The country is however used to fluctuations and it is expected that it will continue to be a strategic sector for the investors and the financiers due to sound fundamentals in the long term.
Key Market IssuesThe EU-Turkey energy and climate relationship is considered by the EU as one of the few components of the EU-Turkey Positive agenda’ - areas in which strong mutual interests prevail even during politically difficult times (EEAS, 2017) After years of relying on gas from countries such as Russia and Azerbaijan for its power, Turkey has taken steps to wean itself of this dependence and this has translated into a new drive for lignite plants, as well as for renewables. There are a few players who have a foothold in the nuclear sector (including Russia, Japan and France) and general opportunities for foreign intervention in this sector are limited. Turkey is in the top 10-12 countries in the world for power.
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Related Topics:Energy and Natural Resources
KEYWORD: TURKEY EUROPE
INDUSTRY KEYWORD: ENERGY UTILITIES
SOURCE: Research and Markets
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PUB: 10/08/2018 07:39 AM/DISC: 10/08/2018 07:39 AM