Mustafa Yilmaz, the Director of EPDK (Energy Market Regulatory Authority), Turkey, has reportedly announced that it has completed a novel capacity allocation process of more than 2,787 megawatts (MW) in the nation’s solar and wind energy sector.
Yilmaz further added that in not more than 1.5-2 years, the EPDK will jointly undertake a $5 billion investment for renewable energy.
Meanwhile, the EPDK stated that it had signed another crucial proposal that would boost the role of Turkey's renewable and domestic energy sources in power production.
According to the statement, the 2,787 megawatts capacity that was issued was reported to the EPDK after the connection capacities, established within the overall scope of the energy resource regions YEKA solar power plants (SPP)-5 as well as (YEKA) wind power plants (WPP)-3, were revised.
As per Yilmaz, the Turkish Electrical Transmission Company (TEIA) would be notified of the applications that are expected to be developed for the new capacities on a monthly basis.
Yilmaz stressed that the cruciality of renewable and domestic energy is growing by the day, expressing that anyone who invests in renewable and domestic energy in Turkey would never be regretful of the decision.
With this decision EPDK has taken as a board, the agency has laid down groundwork for a tremendous amount of capacity for the nation.
Yilmaz noted that now is the time for investors to act, further expressing that all the investments will pay off in the forecasted timeframe at the very least, and hoping that this announcement will be beneficial to the industry and will help the country achieve its net-zero carbon emission goal.
In recent years, Turkey's capacity for renewable energy sources has grown dramatically, allowing it to make valuable additions to the global fight against climate change and the advancement of clean energy solutions.
Renewable energy plants were responsible for 97% of Turkey's new electricity-producing capacity in 2021.
As per data from the Energy and Natural Resources Ministry, 3,446 MW of authorized electricity production capacity was deployed in Turkey in 2021.
With 1,772 MW of capacity, wind power plants stood for 51.5%, while solar power plants counted for 14.5%, adding up to 498 MW.