Looking to diversify its sources of energy to fuel its growing economy, Turkey has nearly doubled its installed power generating capacity in the last decade. The country has added 25,000 MWs of generation capacity to its installed power since 2002, reaching a total of 57,000 MWs at the end of 2012, according to a statement by the Minister of Energy and Natural Resources, Taner Yildiz.
Power generation capacity has expanded considerably in the last four years which has seen a period of increased utilization of renewable sources that are abundant in the country and which account for 60 percent of the total capacity increase observed in the last 10 years.
“Turkey’s political stability ensures continuous growth. An ever-increasing energy demand accompanies this growth. The investment total in energy sector amounted to TRY 100 billion (approx. USD 55 billion) over the last 10 years..”, Minister Yildiz said, adding that the country needed to double that amount to TRY 200 billion (Approx. USD 110 billion) to reach its 2023 goals. “At least half of the projected amount will be channeled into two nuclear power plant projects and thermal power plants that use domestic coal reserves..”, Yildiz said in his statement.
Vying to be among the top 10 economies of the world by the year 2023, the country aims to have at least 100,000 MWs of installed capacity by then.