Consulting giant Ernst & Young (EY) evaluated the developments in the energy sector in Turkey in 2020, forecasting the sector’s opportunities and risks for the period to come.
EY estimates that circa USD 2 billion was invested in Turkey’s energy sector in 2020, almost all of which was funneled into renewable energy. 48.5 percent of these investments were hydroelectric, 25.3 percent wind, 15.7 percent solar, 7.6 percent biomass and 2.2 percent geothermal power plants.
Turkey's total installed electricity capacity increased by 3 percent to 94,000 MW during the first ten month of 2020 despite the pandemic. EY said the capacity is expected to rise close to 96,000 MW by the end of 2021.