2018 Energy Market Status & Developments in Turkey - Significant Opportunities in Geothermal Power - ResearchAndMarkets.com
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 Turkey
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Turkey's energy demand has been growing rapidly in line with its
economic growth with an increase in 46% between 2007 and 2016.
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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.
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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.
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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.
Key Findings
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The main fossil fuel generation in Turkey is natural gas (27% of
installed capacity) and coal (22% of installed capacity).
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61.5% of installed electricity generation is owned by the private
sector.
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Renewable energy is the greatest untapped power potential in Turkey
and in particular there are significant opportunities in geothermal
power.
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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 Issues
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The 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)
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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.
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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.
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Turkey is in the top 10-12 countries in the world for power.
For more information about this report visit https://www.researchandmarkets.com/research/4fll4d/2018_energy?w=4
View source version on businesswire.com: https://www.businesswire.com/news/home/20181008005370/en/
Copyright Business Wire 2018
Source: Business Wire
(October 8, 2018 - 7:39 AM EDT)
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