• 4 minutes US-backed coup in Venezuela not so smooth
  • 7 minutes Why Trump will win the wall fight
  • 11 minutes Oil imports by countries
  • 13 minutes Maduro Asks OPEC For Help Against U.S. Sanctions
  • 4 hours Climate Change: A Summer of Storms and Smog Is Coming
  • 21 hours Tension On The Edge: Pakistan Urges U.N. To Intervene Over Kashmir Tension With India
  • 22 hours The Quick Read On MBS's Tour of Pakistan, India And China
  • 23 hours Iran Starts Gulf War Games, To Test Submarine-Launched Missiles
  • 22 hours BMW to add 2,000 more jobs at Dingolfing plant
  • 21 hours Teens For Climate: Swedish Student Leader Wins EU Pledge To Spend Billions On Climate
  • 2 days Itt looks like natural gas may be at its lowest price ever.
  • 1 day Saudi A to Splash $100 Bln on India
  • 23 hours Venezuela: Nicolas Maduro closes border with Brazil
  • 2 hours Washington Eyes Crackdown On OPEC
  • 2 days Amazon’s Exit Could Scare Off Tech Companies From New York
  • 20 hours Indian Oil Signs First Annual Deal For U.S. OilIndian Oil Signs First Annual Deal For U.S. Oil
  • 1 day NEW FERUKA REFINERY
The World’s Largest Battery To Power The Permian

The World’s Largest Battery To Power The Permian

A huge 495-MW energy storage…

How Long Will This Oil Rally Last?

How Long Will This Oil Rally Last?

Oil prices have been trading…

Turkey Plans World’s Biggest Offshore Wind Farm

Wind

Turkey said on Thursday that it would be accepting applications for the construction and operation of a 1,200-MW offshore wind farm—the world’s biggest—by October 23.

The Renewable Energy General Directorate will begin assessing the applications on October 23 and then inform the applicants about the date of the auction for the offshore wind farm.  

In its official announcement of the tender today, Turkey’s Ministry of Energy and Natural Resources set the ceiling for the price of one megawatt-hour at US$8. Applicants—who will be able to form consortia—will be bidding to offer the lowest price in a reverse auction.

The bidder with the lowest bid will sign a power purchase agreement.

Some of the other specifics in the race to build and operate the biggest offshore wind farm in the world include 60 percent of the equipment to be domestically produced and 80 percent of employees to be Turkish nationals.

Earlier this year, Turkey identified Saros and Gallipoli in the Marmara region in northwest Turkey straddling Europe and Asia, as well as K?y?köy in the Thrace region on the Black Sea, as the potential sites to host the world’s biggest offshore wind farm.

Related: Shale CEO: U.S. To Be The World’s Top Oil Producer By Fall

As of the end of 2017, Turkey had a total of 207 wind energy plants, with a total installed capacity of 6,516 MW, according to its energy and natural resources ministry. Last year, wind energy accounted for 6.06 percent of Turkey’s electricity production.

Last year, Turkey was targeting to have US$5 billion in wind energy investments, as part of its longer-term plans to raise the share of renewable sources in the country’s total installed power to 30 percent by 2023. By that time, Turkey aims to have total installed power capacity of 120 GW. The plan through 2023 also envisages installing 1 GW of geothermal and 5 GW of solar energy, but also increasing coal-fired installed capacity from the current 17.3 GW to 30 GW.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment
  • JACK MA of the Land on June 21 2018 said:
    Metal gears over COROSIVE salt water. That should be a short lived project if it really is not just a shell company to clean is dirty illegal oil theft profits from Syria. IMHO

Leave a comment

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