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Turkish geothermal sec. to double investment by 2020

- Governmental support is a must for geothermal sector development, the head of Turkish geothermal assoc., JESDER, says

home > Renewable, Geothermal/Biomass 17.08.2017 09:31 Ebru Şengül

Turkish geothermal sec. to double investment by 2020

Turkey's geothermal energy sector aims to more than double investments to $7 billion by 2020 from the current level of $3.2 billion, Ufuk Senturk, the president of Turkey's Geothermal Electricity Power Plant Investors Association (JESDER) told Anadolu Agency on Wednesday.

Speaking exclusively to AA, Senturk said that the electricity generation from geothermal in Turkey has experienced a massive rise in recent years and continues to grow year by year.

Turkey's geothermal sector has seen growth in power generation capacity from 30 megawatts (MW) in 2008 to the current 870 MW – equivalent to 19 percent of the country's potential for geothermal power production, currently estimated at 4.5 gigawatts.

"Turkey, the seventh country in the world with its 870 MW of installed capacity in geothermal, increased this capacity every year by 50 percent in the last five years," he explained.

According to Senturk, the contribution from geothermal power, as a national, local and environmentally-friendly energy source, needs to increase for the economy and such development should be backed by governmental support.

He added that on the associations' behalf along with with sector officials, they have made this known to public authorities.

The risks and costs are very high for geothermal investments especially for lower heat geothermal resources, falling second to investments in nuclear power, he asserted.

"For resources with heat under 140 degrees Celsius to contribute to the economy, we expect some regulations," he declared.

The larger share of investments is needed for geothermal drilling at $3 million per well, Senturk said. He explained that a 1,000-meter well requires investment of $300 per meter. But at further depths the cost rises. For example a well to a depth of 3,000 meters would require $1,000 per meter to drill.

Together with other expenditure, the cost of drilling a 4,000-meter deep well could reach $6 million, he said.

"The amount of investment in geothermal energy today is $3.2 billion. When the 1.75 thousand megawatts of geothermal power plant projects licensed and scheduled for 2020 are finalized, this investment amount will reach $7 billion," Ozturk noted.

He concluded that the purchase guarantee scheme for geothermal energy, currently set at $0.105 cents per kilowatt-hour, should continue for another five years after 2020 for the future of this energy source.

The country has pledged to develop 30 percent of its total installed capacity from renewable sources by 2023. The objective is to add 34 GW of hydropower, 20 GW of wind energy, 5 GW of solar energy, 1 GW of biomass and 1 GW of geothermal power.

By Ebru Sengul

Anadolu Agency

energy@aa.com.tr

 

 


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-With this award, Equinor and incoming strategic partner BP will provide 3.3 gigawatts of power to New York State
15.01.2021 Finance , Wind , Renewable , General

Electricity to form 30% of Turkey energy demand by 2040

- Final energy demand will increase by 40% while electricity demand will grow by around 70% to 90% by 2040
14.01.2021 Electricity , Renewable , Turkey

IEA to create 1st roadmap for net-zero emissions by 2050

- World's first comprehensive plan will analyze how energy sector can be decarbonized in line with Paris Agreement
13.01.2021 Renewable

New Mexico to have largest wind installation in region

- New Mexico wind project will be capable of powering 590,000 homes
12.01.2021 Finance , Wind , Americas , General

Wind, water produce most of EU renewable power in 2019

- In 2019, renewable energy sources comprised 34% of gross electricity consumption in European Union
09.01.2021 Finance , Wind , Solar , Hydro , Europe

2020 sees big developments in Baltic Sea offshore wind

-Poland, Germany, Denmark, Sweden, Finland, Lithuania, Estonia and Latvia sign declaration to boost offshore wind energy
09.01.2021 Finance , Wind , Renewable , Europe

EC gives €5M funding for combined wind/hydrogen project

- Multinational consortium and recipient of funding plan to start combined wind turbine and electrolyzer project in 2021
09.01.2021 Finance , Wind , Renewable , General

Siemens Gamesa seals its first wind project in Ethiopia

- The 100-megawatt wind farm will help power over 400,000 Ethiopian households
08.01.2021 Finance , Wind , General

Turkey to open mini solar tenders in 2 months

- Mini YEKA tenders are important in deploying more solar energy investments throughout Turkey, energy minister says
07.01.2021 Renewable , Solar

Esenboga Elektrik pays in full for 11 solar power plants

- Approx. 20 million kWh of solar energy, $2.66M of sales revenue and $2.5M of net income are expected in 2021 from plants
31.12.2020 Electricity , Solar , Projects , Turkey

Turkey's energy developments in 2020: Energy Minister

-Turkey's renewable installed power in 2020 outpaces total renewable installed power of 21 countries in Europe, says Minister
31.12.2020 Natural Gas , Solar , Energy Diplomacy , Turkey , General

Turkey becomes key player in global wind energy

- Exports generate around 70% of revenue from 79 companies in Turkey's wind equipment production sector
31.12.2020 Wind , Turkey

Renewables output prevents Turkey's $5B energy imports

- Turkey's installed renewable capacity totals 49 gigawatts with approximately 4.7-gigawatt increase this year
26.12.2020 Renewable , Turkey

Canadian Solar finalizes 290MW solar sale in Italy

- Falck Renewables buys remaining 30% share of Big Fish and Iron solar projects totaling over 290 megawatts in Sicily
24.12.2020 Finance , Solar , Energy Projects , General

Oxford PV hits world record in solar cell efficiency

- Oxford PV will be first company to sell next generation solar cells to public from 2022
24.12.2020 Renewable , Solar , Europe

Vestas secures 360-megawatt turbine agreement in Brazil

- Turbine delivery is expected in second half of 2022
23.12.2020 Wind , Americas , General

Future of oil prices depends on vaccines: IEA chief

- Even if viable vaccine becomes widely available, little recovery is expected in oil markets, says Fatih Birol
23.12.2020 Oil , Renewable , World

Vestas invests in CIP to enrich renewable value chain

- Vestas will invest in new "Energy Transition Fund" focusing on new technologies, managed by CIP as anchor investor
22.12.2020 Finance , Wind , Renewable , Europe , General

Solar to help meet Turkish energy ministry's power need

- Solar power projected to meet 17% to 25% of annual energy consumption at energy ministry's headquarters: Energy Minister
19.12.2020 Renewable , Solar , Turkey

Highlights of global energy market in 2020

- Oil price volatility due to Covid-19, energy demand slump and acceleration in renewables are hot topics in 2020
21.12.2020 Oil , Renewable , Energy Diplomacy , World

Highlights of Turkish energy market in 2020

- Black Sea gas discovery, tensions in E. Med., TurkStream coming online and records in renewables were hot topics in 2020
21.12.2020 Natural Gas , Oil , Renewable , Coal , Energy Diplomacy , Turkey

Climate strikes, environmental protests in November 2020

- Environmental groups, activists around globe continue protesting online, mostly due to increasing COVID-19 cases
16.12.2020 Renewable , Energy Projects

Turkey's Sabanci to invest $450M in wind over 4 years

- "We put sustainability and new technologies at center of investments and growth plans," high official at conglomerate says
16.12.2020 Renewable , Invesments , Turkey

Hydro produces 89% of Norway's power in November

- Norway produces 13.43 terawatt-hours of electricity in November
15.12.2020 Electricity , Hydro , Europe , General

Support mechanism key to Turkey’s renewables growth

- Renewable energy capacity additions this year to date set record high with over 4,200 megawatts
12.12.2020 Renewable , Invesments

Vestas wins 125-megawatt order in US

- Turbine delivery is scheduled for third quarter of 2021
12.12.2020 Wind , Europe , Americas , General

Hydro produces 92.8% of Norway's power in October

- Norway produces 13.91 terawatt-hours of electricity in October
10.12.2020 Hydro , Europe , General

Vestas secures 39-megawatt turbine agreement in Italy

- Turbine delivery is expected in second quarter of 2021
10.12.2020 Wind , Europe , General

Green recovery could cut 25% of forecast 2030 emissions

- UN says green recovery would put emissions within range, giving a 66% chance of holding temperatures below 2°C
10.12.2020 Renewable

Equinor joins Europe’s biggest green hydrogen project

- NortH2 aims to produce green hydrogen using renewable electricity from offshore wind off coast of Netherlands
09.12.2020 Wind , News from companies , World , Europe

Vestas secures 74-megawatt turbine agreement in Finland

- Deliveries for both projects are expected to begin in third quarter of 2021
08.12.2020 Wind , Europe , General

Turkey aims to hit 10,000 MW wind capacity: Minister

-Country reaches 8,330 MW installed wind power capacity as of October, energy minister says
26.11.2020 Wind , Turkey

RWE to sell stake in UK offshore wind farm to Greencoat

- Total cash consideration payable at completion of deal is 648 million pounds
24.11.2020 Renewable , Wind , Europe

Renewables thrive despite low energy demand: IEA Chief

-Solar power plants have become ‘new king’ of electricity sector amid decreasing global energy demand, says Fatih Birol
25.11.2020 Oil , Renewable , International Organization , World , Turkey

2020 turning point for renewables in Turkey: En. min.

- Turkey's new installed capacity in renewables for 2020 is higher than 17 EU countries' renewables capacity, minister says
24.11.2020 Renewable , Energy Diplomacy , Turkey

G20 needs to ramp up targets to tackle climate crisis

- COVID-19 recovery spending for coal, oil and gas risks reversing positive trends seen before pandemic
19.11.2020 Renewable , Renewable

Falck Renewables, Eni to build solar plant in Virginia

- The 30 MW solar plant will provide carbon-free solar energy and avoid over 33,000 tons of CO2 per year
18.11.2020 Finance , Solar , Americas

Turkey to rank 5th in Europe in renewable power growth

- Turkey's renewable energy capacity will grow by almost 50% by 2025, data reveals
13.11.2020 Solar , Turkey

Statkraft acquires London-based Solarcentury

- Transaction comprises 100% share acquisition of Solarcentury Holdings and its subsidiaries
02.11.2020 Finance , Solar , Renewable , Europe , General

Renewable companies overtake world's once energy giants

- Financial markets have a rethinking of future energy needs and supplies with COVID-19 and regard fossil fuels a growing risk, top expert says
31.10.2020 Oil , Renewable

Power sector in its biggest transformation in history

- Rise of new sources of generation, digitalization and new business models drive transformation: Int. Energy Agency report
28.10.2020 Electricity , Renewable

Turkey ranks 5th in Europe in wind equip. production

- The country hosts 12 operational facilities producing wind turbine components such as towers, blades and castings
27.10.2020 Renewable , Wind , Turkey , Europe

Net-zero buildings could reduce energy demand by 95%

-Achieving global net-zero buildings is technically feasible in fight against climate change, new Oxford University study finds
23.10.2020 Renewable , Finance
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