Turkey’s renewable energy investments reached $5.5 billion in the first nine months of this year, according to data of the International Energy Agency and Turkey’s energy ministry.
Turkey has generated 27,585 megawatts in renewable power by adding 2,000 megawatts to its total capacity in the last nine months, according to energy ministry sources.
More than half of the renewable energy capacity came from hydro power plants through a $4 billion investment resulting in the addition of 1,165 megawatts of hydro power to the country's total renewable capacity. More than a quarter of the rise came from wind power. Wind investments during this period reached $1.3 billion and resulted in a generation capacity of around 724 megawatts of electricity.
A total of 137 renewable power plants were brought on line in Turkey during the first nine months of this year. Of these two large hydro plants, 35 small hydro, 15 wind, 73 solar, 11 bio-mass and one geo thermal plant became operational.
Turkey has more than 68,000 megawatts of total installed capacity in electricity and aims to reach 100,000 megawatt levels. Renewables' share in electricity production is targeted to rise to 30 percent by 2023, according to Turkish Prime Minister Ahmet Davutoglu.
In accordance with the 2023 goals, wind power is aimed to reach 20,000 megawatts, geothermal to reach 600 megawatts and solar to reach 3,000 megawatts, Davutoglu said.
Turkey is second in the world after China in terms of rising electricity demand. Turkey's demand almost doubled in the past decade and is expected to double again by 2023. In order to match the rate of increase, it aims to invest more than $120 billion in the energy sector.
By 2023, Turkey aims to reduce dependence on natural gas imports, which costs around $60 billion every year, by investing in renewable energy resources.
By Ata Ufuk Seker and Oguzhan Ozsoy
Anadolu Agency