Turkey Renewables Report

Published 12 May 2015

  • 40 pages
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  • Includes 3 free updated quarterly reports
Turkey Renewables Report

BMI View: A reliance on gas-imports, coupled with a weakening currency, is providing tailwinds for Turkey's ambitious renewable energy expansion plans. With favourable conditions for solar and wind power, renewable energy will present an increasingly attractive solution to Turkey's energy woes, aligning with our long-held view that the country is becoming a key renewables market in the region.

Despite the dominance of thermal generated electricity, Turkey's renewables sector presents significant growth potential across most technologies, including wind, geothermal and solar power. Turkey has made impressive progress with its renewable energy expansion over the last decade, and across both Western Europe and Central and Eastern Europe (CEE), we see Turkey emerging as a key market; with strong project pipelines, robust growth potential and relatively attractive investment climate for developers.

Key Trends And Developments

  • Zorlu Enerji's wholly-owned subsidiary Zorlu Dogal Elektrik Uretimi received the preliminary licence for the 100MW Kizildere III JES geothermal project in Denizli in December 2014. The license was awarded by the Turkish energy market regulator.

  • In April 2015, French firm Akuo Energy signed a USD100mn financing deal with the International Finance Corporation (IFC) to build a 77.5MW wind park in central Anatolia region. The IFC will lead and arrange a syndicate of other multilateral agencies or commercial lenders to offer funding for the Baglar RES wind farm. Construction is scheduled to start in July 2015, with commissioning expected in January 2017.

  • Chinese solar modules manufacturer China Sunergy (CSUN) signed a memorandum of understanding (MoU) with Turkish financial leasing company Deniz Finansal Kiralama to fund solar projects in Turkey in November 2014. According to the terms of the MoU, DenizLeasing will facilitate and provide capital leasing for up to 100MW of PV projects, deploying CSUN's solar modules and other...

Table of Contents

BMI Industry View
Industry Forecast
Turkey Renewables Forecast Scenario
Table: Total Electricity Generation Data And Forecasts (Turkey 2013-2018)
Table: Total Electricity Generation Data And Forecasts (Turkey 2019-2024)
Table: Electricity Generating Capacity Data And Forecasts (Turkey 2013-2018)
Table: Electricity Generating Capacity Data And Forecasts (Turkey 2019-2024)
Turkey Renewables Projects Database
Table: Turkey Key Projects - Renewables
Industry Risk Reward Index
Turkey Renewables Risk/Reward Index
Market Overview
Sustainable Energy Policy and Infrastructure
Targets (Renewables And Emissions)
Table: Renewable Feed-In Tariffs In Turkey, 2011
Competitive Landscape
Zorlu Energy Group
Aksu Enerji ve Ticaret
Vestas Wind Systems
Table: Glossary Of Terms
Methodology And Sources
Industry Forecast Methodology
Risk/Reward Index Methodology
Table: Renewables Risk/Reward Index Indicators
Table: Weighting Indicators

The Turkey Renewables Report researched at source contains BMI Research's assessment of the current renewables market in Turkey. The report also contains historical data together with forecasts to end-2018 covering electricity generation (TWh) and electricity capacity (MW).

The renewables sectors covered in the report include Wind, Solar, Geothermal, Tidal and Wave, and Biomass (See Table of Contents for exact coverage). The report also features details on government green energy agendas and funding opportunities, as well as presenting a detailed list of key renewables projects currently being planned or undertaken in Turkey, their capacity, the timeframe of construction and their current status.

The report discusses the various energy policies currently in force, including targets, subsidies and the relevant infrastructure developments or limitations which might impact on renewables growth, analysing the potential effects of regulatory changes in conjunction with the background macroeconomic outlook. Finally, there is a general overview of the competitive landscape in Turkey, together with a detailed summary of the main utilities and manufacturers present and their business operations.

BMI's Turkey Renewables Report provides industry professionals and strategists, sector analysts, investors, trade associations and regulatory bodies with unique independent forecasts and competitive intelligence on the Turkey renewables industry.

Key Benefits

  • Benchmark BMI's independent renewables industry forecasts for Turkey to test other views - a key input for successful budgeting and planning in the renewables market.
  • Target business opportunities and risks in the Turkey renewables sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in the country.


BMI Industry View

Summary of BMI's key industry forecasts, views and trend analysis covering the renewables market in Turkey, regulatory changes, major investments and projects and significant multinational and national company developments.

Industry SWOT Analysis

Analysis of the major Strengths, Weaknesses, Opportunities and Threats within the renewables sector and within the broader political, economic and business environment.

BMI Industry Forecasts

Historic data series (2010-2012) and forecasts to end-2018 for electricity generation (TWh) and electricity generating capacity (MW) for each individual renewables sector present in the country.

These in turn are broken down into:

Electricity Generation: Overall capacity (TWh), growth % change year-on-year, KWh per capita, % of Total Non-Hydropower renewables generation, % of total electricity generation.

Electricity Capacity: Overall capacity (MW), growth % change year-on-year, % of non-hydroelectric renewables capacity and % of total capacity.

These forecasts are in turn supported by explicit assumptions, in conjunction with analysis of the key risks to the main forecast.

Business Environment Rankings

BMI's Renewables Business Environment Rankings provide fully comparable Risk-Reward Rankings aimed at investors in the regional renewables market.

The rankings methodology makes sophisticated use of various industry, economic and demographic data point.

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'An essential, multi-faceted research tool. BMI’s thorough understanding of the major market players enables an informed – and informative – review of the sector’s actual performance, together with useful insights into current industry issues, which are topped-off with detailed and invaluable forecasts of industry and macroeconomic trends.’

Senior Research Analyst, ABC International Bank plc