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years, Turkey is thus faced with oversupply problems.
Electricity producers are selling output on the liberalised market in which prices are shaped by market dynamics. When there is an oversupply, prices automatically fall on the market.
Turkey’s installed electricity generation capacity reached 91,342MW in January, according to latest data from state-run electricity transmission company TEIAS.
Power capacity rose to 91,267MW at end-2019 from 88,551MW at end-2018.
Renewable energy capacity in Turkey has, meanwhile, registered a remarkable surge over the last decade, with a steady increase of 11% per year amid a 7% annual capacity rise in other fuels for power generation, Raiffeisen Research noted on February 14.
The installed capacity in renewables totalled 45,000MW at end-2019, 49% of total installed capacity.
Solar power made up nearly 6.6% of total installed power, with an approximate capacity of 6,000MW, while wind power, with an installed capacity of 7,600MW, accounted for 8.3% of total.
Turkey now ranks 6th in Europe and 13th in the world in terms of renewable capacity.
The International Energy Agency (IEA) predicts Turkey’s renewable energy capacity will reach 63GW by 2024, placing Turkey among Europe's top five and 11th worldwide in terms of renewable capacity.
According to the World Bank, Turkey has nearly 70GW of technical potential for offshore wind, amounting to around three times the installed electricity generation capacity of all 28 EU countries.
In December, a lawmaker from the main opposition party CHP lashed out at the government for energy policy that encourages the construction of power plants that the country does not need.
Over the past five years a total of 214 hydropower plants have gone operational in Turkey, but the country plans to build 261 more such facilities in coming years.
Turkey also plans to construct 180 wind power plants and 21 geothermal power plants.
Since 2014, 90 wind power plants and 51 geothermal power plants have come online.
Total gross power generation in Turkey slightly declined by 0.2% y/y to 304.3TWh in 2019 while net consumption declined by 0.6% y/y to 290.4TWh.
Local and renewable resources including solar, wind, geothermal, hydropower and bio-waste, generated more than 44% of the total power.
Share of power generation from natural gas drastically dropped to below 20% in 2019 from about 30% a year ago and about 50% a decade ago.
Local and foreign investors in the Turkish renewable energy sector are expecting the announcement of a new scheme as Turkey’s currently running feed-in-tariff programme Renewable Energy Support Mechanism (YEKDEM) will expire at the end of 2020, Raiffeisen Research also noted.
56​ TURKEY Country Report​ March 2020 ​ ​www.intellinews.com