Renewable energy technology

More and more Danish companies are focusing on Turkey as a regional hub for sector product and equipment sourcing and exports, according to the Danish Consul General, Anette Snedgaard Galskjot.

When it comes to renewable energy, we should not only think of sun and wind but also geothermal and hydropower, said Fatih Birol, President of the International Energy Agency (IEA) on May 12.

The public sector is responsible for the establishment of a secure and reliable environment for energy sector investor needs and priorities through the development of relevant policies, legislation and incentives, Turkey's Energy and Natural Resources Minister, Fatih Dönmez, said on March 17.

The Energy Ministry is considering bringing forward the option for big electricity consumers to reach power purchase agreements (PPA) with renewable energy source producers as a solution to the major problem of the high cost of energy for industries.

Turkish banks could receive up to $3 billion in renewable energy financing to support the continuation of clean energy capacity in the country, Director at Garanti BBVA Investment Banking and Finance, Emre Hatem, told Anadolu Agency in a recent interview.

Wholesale electricity rates jumped 10% in December from the previous month, while dropping just 1% from a year earlier, according to the monthly analysis of the local energy market by the Institute of Energy for Southeast Europe (IENE) that showed the average rate at 58.93 euros per megawatt-hour.

Energy efficiency measures and investments saved Turkey $1 billion between 2017-2019, according to Energy and Natural Resources Minister Fatih Dönmez on Wednesday.

Athens-listed group Mytilineos stated on Wednesday that its Renewables and Storage Development (RSD) Business Unit has acquired another solar project in Queensland, consolidating its position in the Australian energy market.

The Greek company acquired the 110-megawatt Moura Solar Farm from ESCO Pacific, one of Australia's leading solar farm developers and operators.

Prime Minister of India Shri Narendra Modi inaugurated world's largest and first of its kind Renewable Energy Park on 15 December 2020 in Khavda, Gujarat. The Renewable Energy Park in Kutch will be spread over 72,600 hectares of waste land. The park will have the capacity to generate about 30,000 MW of electricity from both the solar as well as wind energy.

Investment prospects in the renewable energy sector look promising. From December 1-18, 1,500 applications for projects representing 15 gigawatts of power were submitted to the Regulatory Authority for Energy (RAE) and 20 GW could be reached by today's deadline. 

Most applications were from foreign companies and funds.