A $1 billion investment could result from Turkey's increased wind energy capacity in 2023
According to an executive, Turkey may add 1,000 MW of additional wind energy capacity next year, which might draw in new investments worth $1 billion (TL 18.57 billion).
The installed wind energy capacity of Turkey will surpass the 12,000 MW mark in the first quarter of 2023, according to Ibrahim Erden, the head of the Turkish Wind Energy Association (TÜREB).
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| Turkey's increasing wind energy capacity in 2023 could lead to an investment of $1 billion. |
"By the end of next year, Turkey will likely have added close to 1,000 megawatts, in my estimation. The investment equivalent of this is at the level of around $1 billion, according to Erden, who also cited the global energy crisis typified by skyrocketing costs in a statement.
Turkey still relies heavily on imports to meet its energy needs, making it exposed to increased prices brought on by Russia's invasion of Ukraine. It started large-scale initiatives and started solar and wind power station tenders to increase its production of renewable energy.
Over 95% of the country's new capacity additions in 2017 came from renewable sources.
By the end of March this year, there were over 100 gigawatts of installed power capacity, with more than half coming from renewable sources like hydro, wind, solar, and geothermal energy.
Turkey is ranked seventh in Europe and 12th in the world for installed wind power, and fifth in Europe and 12th overall for installed renewable energy capacity.
According to Erden, Turkey could increase its annual wind energy capacity by around 3,000 MW by making efficient use of its financial, human, engineering, and manufacturing resources.
The Turkish Wind Energy Association estimates that 1,750 MW of wind energy capacity was added throughout 2021, making it the greatest annual addition to date. A previous record growth of 1,248 MW was noted in 2016.
According to the TÜREB, the entire installed capacity for wind energy will be 10,750 MW by the end of 2021.
The exports of wind turbines and related equipment from Turkey, according to Erden, are expected to reach over 1.5 billion euros this year and to rise by at least 10% by 2023.
The nation sold wind turbines and equipment worth $1.49 billion last year to close to 50 nations.
Istanbul news update for (November 6, 2022). News.
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