Renewable power capacity in Turkey, excluding hydropower, is expected to increase from 19.07 GW in 2020 to 49.31 GW by 2030, growing at a compound annual growth rate (CAGR) of 10%, according to data and analytics company GlobalData.
Around 25 onshore wind power projects are under construction and a further 99 projects are in the process of receiving governmental permits, with total capacity collectively accounting for around 6.77 GW, according to GlobalData’s report ‘Turkey Power Market Outlook to 2030, Update 2021 – Market Trends, Regulations, and Competitive Landscape’.
The government is now planning to reach a cumulative solar PV capacity of 15 GW by 2027
The country has already achieved its 2023 target of 5 GW solar PV capacity in 2018 and the government is now planning to reach a cumulative solar PV capacity of 15 GW by 2027. Turkey is expected to comfortably meet this target by 2026, Global Data said.
The expected renewables growth is supported by the Renewable Energy Law, the government’s tool for achieving renewable power targets.
Reforms paved the way for the renewables growth
Rohit Ravetkar, Power Analyst at GlobalData, said the Turkish government has been actively encouraging the use of renewable power sources to reduce dependence on fossil fuels. Under its National Renewable Energy Action Plan (NREAP), the country is expanding its renewable power capacity led by wind power.
“The successful privatization of power distribution, along with the expected privatization of its power transmission sector, is likely to increase competition and expand growth opportunities in Turkey. The government also established a national energy exchange, which became operational in 2015. It has fostered further liberalization of the power sector and ensured more transparency and efficient matching of supply and demand. Additionally, as Turkey bridges Europe and Asia, this provides an opportunity for the country to transform into a regional energy hub,” Ravetkar said.