Renewables

Record 4.8 GW of new plants in 2020 boosts Turkey’s renewables capacity to 49 GW

Record 4.8 GW of new plants in 2020 boosts Turkey’s renewables capacity to 49 GW

Photo: Alirıza ÇETİNTÜRK from Pixabay

Published

January 26, 2021

Country

Comments

0

Share

Published:

January 26, 2021

Country:

Comments:

0

Share

Turkey has added the most renewable capacity in one year in 2020 – around 4.8 GW, making renewables account for 49 GW out of 95 GW of its total installed power.

The record increase in new renewable energy power plants was driven for the most part by investors’ rush to have projects online in time to get feed-in tariffs under the Renewable Energy Resources Support Scheme (YEKDEM), which was due to expire on December 31, 2020.

Half of the additional renewable energy capacity last year came from hydropower plants, while wind, solar, and biomass accounted for the rest, according to the Anadolu Agency (AA).

New green power plants attracted investments totaling USD 7 billion.

According to the 2020 official data, a stunning 99.6% of the new capacity in Turkey was from renewables.

“Almost all of the total increase in power capacity in Turkey last year came from renewables which was a remarkable trend,” said Deloitte Turkey’s Energy and Natural Resources Industry Leader, Elif Dusmez Tek.

YEKDEM was extended to June 30

YEKDEM, which was rolled out in 2011, supports wind and hydropower plants at USD 0.073 per kWh, geothermal facilities at USD 0.105 kWh, and solar and biomass plants at USD 0.133 kWh.

For example, renewable power plants received USD 6.41 billion under the YEKDEM in 2019.

Turkey’s motivation to end the scheme was due to its dollar-based trade, while uncertainty over a replacement scheme encouraged investors to complete projects before the current scheme’s expiry date, AA reported.

The scheme, however, was extended to June 30 this year due to the COVID-19 pandemic, which caused supply chain disruptions, especially in the first half of last year.

Comments (0)

Be the first one to comment on this article.

Enter Your Comment
Please wait... Please fill in the required fields. There seems to be an error, please refresh the page and try again. Your comment has been sent.

Related Articles

Serbia opens door for batteries as solution for intermittency of renewables rajakovic nikola

Serbia opens door for batteries as solution for intermittency of renewables

04 February 2023 - We spoke with Professor Nikola Rajaković about proposed changes to the Law on the Use of Renewable Energy Sources

Motor Oil PPC Hellenic Hydrogen company

Motor Oil, PPC establish Hellenic Hydrogen company

03 February 2023 - Motor Oil and PPPC proceeded with the establishment of Hellenic Hydrogen. The firm will produce and store green hydrogen in Greece.

Serbia gets its first commercial PPA financing secured for Krivaca wind farm

Serbia gets its first commercial PPA – financing secured for Krivača wind farm

03 February 2023 - MK Group and ALFI Green Energy Fund have secured EUR 155 million for the project from a consortium of lenders led by Erste Group

Bulgarian IBEX exchange market guarantees of origin

Bulgarian IBEX exchange to set up market for guarantees of origin

03 February 2023 - Independent Bulgarian Energy Exchange – IBEX said it would organize a market for guarantees of origin of electricity