Turkey completed its first pre-licensing after receiving record-breaking applications for the installation of solar and wind-based electric storage facilities.
According to Mustafa Yilmaz of Turkiye’s Energy Market Regulatory Authority, a total of 12 pre-licenses have been issued with a combined capacity of 744 MW. This will require an initial investment in the amount of $1.5 Billion for this sector.
Yilmaz said that the high number of applications reflects a positive investor appetite in Turkey and its potential.
He said that the total number of applications reached 4,369 and that the total installed power capacity corresponded to 221,000 MW. He said that the amount of power generated from wind energy storage electricity was 113,500 MW. The solar energy version is 107,500 MW.
Yilmaz says that the volume of applications could push the final investment amount up to $40-$45 billion.
“We have said that our regulation on electricity storage is a revolutionary development in the renewables sector. “The investment demand for $270 billion in electricity storage has confirmed this prediction,” said he.
“We implemented this regulation because we believed in the potential of our country and trusted our investors. “We can already see the new era that our energy sector has entered with the regulation of electricity storage facilities,” said he.
Turkey’s current renewable power capacity is more than half the total installed capacity of the country, which was 104,488 MW on April 7.
The wind is the second largest renewable electricity source, with 11,490 MW. Turkey reached 9,820 MW of solar power in the same time period.
In 2023, the renewable energy portfolio of the country is expected to grow by at least 1,000 MW each in the wind and solar power.