Turkey's Energy Sector Poised for Stability in 2025
Turkey is on the brink of a more stable energy market in the upcoming year following a series of advancements in both hydrocarbon and renewable energy sectors throughout 2024, according to Murat Dilek, the Chairperson of the Global Energy Association.
Breakthroughs in Hydrocarbons and Renewables
Murat Dilek, speaking to Anadolu Agency (AA), highlighted the expansion of natural gas and oil exploration activities beyond Turkey's territorial waters, particularly in Africa. Notably, progress in oil extraction in Gabar stands out as a significant achievement in the hydrocarbon sector. Dilek also emphasized the increase in industrial investments expected in the coming year.
Enhanced Targets in Renewable Energy
With the introduction of a new strategy document in October, Turkey has elevated its wind and solar energy goals for 2035. The country aims to quadruple its wind and solar energy capacity to 120,000 megawatts (MW) by 2035, as outlined by the Energy and Natural Resources Ministry.
Transition to Predictable Energy Market
Starting from 2025, Turkey anticipates a more predictable energy market with initiatives such as the development of new models in renewable energy and energy storage. The annual announcement of 2,000 MW Renewable Energy Resource Areas (YEKA) tenders is set to enhance predictability in the sector.
Focus on Domestic Industry
The HIT-30 program, launched in September, aims to bolster the domestic industrial aspect of the renewable energy sector. These efforts, combined with forthcoming regulations on aggregation and ancillary services, are expected to usher in a new era in renewable energy in 2025.
Global Commitment to Renewable Energy
Despite global political shifts, including the election of Donald Trump as the U.S. President, a steadfast commitment to renewable energy persists worldwide. Significant investments in green hydrogen projects in the U.S. and the establishment of hydrogen corridors in Europe reflect the ongoing momentum in the sector.
Advancements in Offshore Wind Energy
Murat Durak, chairperson of the Offshore Wind Energy Association (DÜRED), noted the initiation of oceanographic and technical surveys for offshore wind farms in 2024. Plans for nearshore wind farm developments along Turkey's coasts, particularly in the Izmir and Aegean regions, are expected to be announced in 2025, offering cost-effective opportunities for investors.
