Turkey Entering 'Golden Era' in Renewable Energy Market

Turkey is entering a “golden era” of renewable energy market developments, according to Tom Popple, project coordinator at the third annual Southeastern European Renewable Energy Conference. 

The conference, held in Istanbul on November 26, primarily focused on Southeast European developments of alternative sources of energy, including solar, wind and biogas. 

“As the liberalization of Turkey continues, a strong interest from the private sector has developed. But there is also pressing interest for Turkey to fully utilize its renewable energy resources. Governments are backing high feed-in tariffs and legislation to promote interest from investors,” read the official statement from Popple. 

Estimates suggest there is a profitable wind energy market in Turkey that could produce good returns and potentially surpass nuclear options in less than a decade, said Erol Demirer, CEO of Demirer Holding. 

Bungo Ezawa, head of Turkey’s Lahmeyer International Energy Branch, noted several positive aspects regarding other renewable energy sources, including solar energy. 

“Turkey is absolutely comparable in terms of solar capability with southern Spain,” he said. 

Source: http://www.invest.gov.tr/en-US/sectors/Pages/Energy.aspx