Turkey’s importance in the energy markets is growing, both as a regional energy transit hub and as a growing consumer. Rapid economic growth, industrialization, and steady population growth in Turkey over the last decade are now combining to transform the country’s energy sector. Turkey’s energy demand is rapidly increasing over the last years. In fact Turkey has seen the fastest growth in energy demand among OECD countries. Turkey is still lagging behind the per capita energy consumption indicator in comparison with the OECD average, which shows that there is still more room for further growth.
In 2012, total electricity consumption increased 5,1% to 243 billion kilowatt hours. Turkey’s electricity demand has seen a 70% increase between 2001 and 2010.
According to the International Energy Agency (IEA), energy use in Turkey is expected to double over the next decade, while electricity demand growth is expected to increase at an even faster pace. In addition to being a major market for energy supplies, Turkey’s role as an energy transit hub is very important. It is key to oil and natural gas supplies movement from Russia, the Caspian region, and the Middle East to Europe.
EMRA (Energy Market Regulatory Authority) approved 2010-2019 Capacity Projection Report of TEIAS (Turkish Electricity Corp) and according to the report; energy deficiency is expected after year 2016.
Installed capacity of Turkey was 57.058 MW as of 2012. The aim is to have 100.000 MW of installed capacity by 2023.
Also this significant shift in the energy policy world-wide inspired by the Kyoto Agreement Turkey is following the new world standards while fulfilling its future energy demand.
Among many alternatives, renewable energy options have recently become administration’s main policy as new Turkish laws have established a set of new incentives.
Endeks Energy is focused on accelerating and developing energy projects in Turkey and around the region.
According to the Strategy Paper, Turkish Government targets to increase share of renewable energy in electricity generation to at least 30% by year 2023. Target capacity for wind energy power plants (WEPPs) is 20.000 MW, solar energy power plants (SEPPs) is 3.000 MW.
Turkey implemented a series of measures designed to spur investment and innovation in the energy sector. The Government passed the legislation for feed in tariffs of renewable energy sources in December 2010 which will accelerate investments.