It's expected that demand for clean energy in Turkey will increase substantially over the next two years in spite of slowing economic growth. The deputy energy minister, Hasan Murat Mercan has estimated that Turkey needs to spend around $10 billion on generating new power each year for the next decade. Doing so would double the capacity from clean energy from its current 55 GW.
The minister is anticipating huge investments over the next few years which will fund projects in hydropower, IMS and geothermal energy, and wind and solar power. He sees investing in clean energy as an important part of supporting economic growth in Turkey.
At the moment Turkey is dependent on importing fossil fuels for around 90% of its energy requirements, and annual demand for energy is expected to grow at 6.3% during the next 20 years. Turkey is different from other emerging European nations where growth in income exceeds retail electricity consumption.
Turkey already has some very large investors including the General Electric Company and Siemens AG. The General Electric Company has already opened a new 22.5 MW wind farm and intends to supply turbines to Fina Enerji Holding AS, a company intent on establishing itself as a leading gas and power provider in emerging Europe. Siemens is to supply turbines to a 50 MW wind farm and expects to receive more orders from Turkey. According to Mercan, Turkey currently has 11,000 MW of wind power capacity in the licensed projects, but has the potential to install around 40,000 MW of wind power capacity.