• 3 minutes Could Venezuela become a net oil importer?
  • 7 minutes Reuters: OPEC Ministers Agree In Principle On 1 Million Barrels Per Day Nominal Output Increase
  • 12 minutes Battle for Oil Port: East Libya Forces In Full Control At Ras Lanuf
  • 1 hour Could Venezuela become a net oil importer?
  • 5 hours Reuters: OPEC Ministers Agree In Principle On 1 Million Barrels Per Day Nominal Output Increase
  • 2 hours Tesla Closing a Dozen Solar Facilities in Nine States
  • 8 hours Saudi Arabia plans to physically cut off Qatar by moat, nuclear waste and military base
  • 2 hours Why is permian oil "locked in" when refineries abound?
  • 10 mins EU Leaders Set To Prolong Russia Sanctions Again
  • 48 mins Oil prices going down
  • 19 mins Could oil demand collapse rapidly? Yup, sure could.
  • 24 mins Gazprom Exports to EU Hit Record
  • 20 hours Teapots Cut U.S. Oil Shipments
  • 16 hours Battle for Oil Port: East Libya Forces In Full Control At Ras Lanuf
  • 11 hours Saudi Arabia turns to solar
  • 2 hours EVs Could Help Coal Demand
  • 21 hours Hot line, Macron: Phone Calls With Trump Are Like Sausages Best Not To Know What Is Inside
  • 8 hours China’s Plastic Waste Ban Will Leave 111 Million Tons of Trash With Nowhere To Go
  • 1 day Russia's Energy Minister says Oil Prices Balanced at $75, so Wants to Increase OPEC + Russia Oil by 1.5 mbpd
Alt Text

EV Adoption Could Cost Germany 75,000 Jobs

The fast-growing adoption of electric…

Editorial Dept

Editorial Dept

More Info

Trending Discussions

Talking Turkey: What About Renewables?

In its quest to become a self-sufficient regional energy hub and a hydrocarbon bridge between the Middle East and Europe, Turkey still hasn’t made that one big discovery, but the ambition is there and it also has a hungry appetite for renewables.


Click map to enlarge.

This is an area of investment in Turkey that is often overlooked, as the majors explore the potential offshore bonanza in the Black Sea and Mediterranean, and both juniors and majors continue to explore conventional and unconventional plays onshore.

Renewables tend to get lost in the frenzy, but here’s the unique situation: Unlike most of its European counterparts, in Turkey retail electricity consumption lags BEHIND income growth. This is the key aspect that makes Turkey an ideal venue for renewable investment. Annual demand growth for the power industry is forecast at 6.3% over the next two decades.  

Ankara hopes to spend $10 billion on new power generation ANNUALLY over the next 20+ years. The goal is to double power generation capacity from what is now only 55 gigawatts. To that end it’s eyeing renewables across the board—wind, solar, hydropower, biomass and geothermal.

General Electric Co. (GE) and Siemens AG (SIE) see the potential, and Turkey is doing all it can to lure more investors. GE is moving forward fast with a 22.5-megawatt wind farm (Sares) and a smaller, 10-megwatt farm at Karadag. These farms are already online, and now…

To read the full article

Please sign up and become a premium OilPrice.com member to gain access to read the full article.

RegisterLogin

Trending Discussions





Oilprice - The No. 1 Source for Oil & Energy News