Sunny days are around in renewable Energy in Turkey
The Energy Market Regulatory Authority’s (EPDK) decision to begin accepting license applications for solar power plants as of June 2013 will boost solar energy investments in Turkey.
The EPDK will grant licenses for a total of 600 megawatts worth of projects in June 2013, an amount estimated to grow to 3,000 megawatts by 2023.
EPDK's President Hasan Koktas said The companies that intend to apply for license have to complete the feasibility studies and license documents for their projects by then. The EPDK will receive only applications for maximum of some 20,000 sq m (215,300 sq ft) of non-agricultural land for 1 MW of solar power capacity.
Under Turkey's Renewable Energy Sources Law, total installed solar power capacity in the country must not exceed 600 MW by 2013. According to Koktas, the legislation will be revised when needed and the total installed solar power capacity in the country will reach thousands of MWs in the coming years.
Turkey aims to source 30% of its energy from renewables by 2023.
US based International Capital Alliance (ICA) Group, in partnership with International Solar Electric Technology, Inc. (ISET) is said to be exploring investment opportunities in Turkey’s solar energy sector.
The partnership plans to invest in photovoltaic (PV) panel production in Turkey’s sunny province of Kilis in Southeastern Anatolia Region and is reportedly looking for available land in Kilis Organized Industrial Zone.
The consortium’s initial investment plans in Kilis include setting up a PV panel factory and a 200 MW capacity solar farm at a cost of USD 700 million.
The solar farm capacity will be upgradeable to 2,000 MW within the next 3-4 years which will take the investment amount to approx. USD 6 billion. The proposed ICA-ISET investment will supply 5 percent of Turkey’s total installed power by the time it reaches its fully operational status. Company officials have already discussed their plans with Turkey’s Minister of Science, Industry and Technology, Nihat Ergun and the chief executive of ICA is expected to visit the Minister shortly.
A new investment incentive scheme coupled with a lucrative feed-in tariff is expected to lure more foreign investors to the power-hungry country with considerable renewable energy sources.
Turkey aims to have 100,000 MW of installed capacity in 2023, a third of which will be generated using renewable energy sources.