Investments in wind energy in Türkiye are expected to surpass $1.5 billion this year, according to Ibrahim Erden, president of the Turkish Wind Energy Association (TÜREB).
Wind energy investments accelerated in 2024 compared to the year before as the installed capacity reached 1,300 megawatts (MW) and approximately $1.3 billion, Erden told Anadolu Agency (AA) recently.
Expressing that they expect investment to rise further this year, he said: “The licenses for storage-integrated projects are slowly being obtained, while in addition, the YEKA (Renewable Energy Resource Areas) projects from the past are starting to be put into operation quickly.”
“With the contribution of these projects, this year’s investment will likely exceed 1,500 megawatts and surpass $1.5 billion,” he added.
Their investments in electricity storage systems alongside wind power plants are also expected to materialize in the coming years, according to Erden.
“As projects in the storage sector progress from pre-license to license stages and as permitting processes are completed, we hope that investments will materialize,” he noted.
He explained that wind energy investments are expected to reach 2,000 MW next year, and to grow by 300-400 MW annually, reaching approximately 3,500 MW by 2028-2029.
Erden also stated that foreign investors have shown interest in wind energy and storage projects, particularly in YEKA auctions, saying that Middle Eastern and Chinese investors have been actively engaging in these auctions.
To further support this interest, this year’s YEKA auctions will be announced in June, earlier than previous auctions, he said. Additionally, investors will be given more time to prepare, according to Erden.
“As a result, the upcoming auction will likely see even greater foreign investor participation,” he said.
Noting that foreign investors are trying to understand the market in storage projects and that inflation and difficulties in accessing financing are slowing down investments, Erden said, “We can say that with the success of this (government’s) economic program, there will be more foreign investor interest in the coming years.”
TÜREB Vice President for Investor Relations Erinç Kısa also recalled that 33 gigawatts (GW) of storage capacity was allocated in wind and solar energy in the recent past in the country, and said that this showed how visionary and foresighted Türkiye was working.
“The electricity system all over the world used to be a system where it (electricity) had to be consumed as soon as it was produced. But with the flexibility provided by storage, a certain amount of flexibility is now provided to the grid,” he suggested.
“In this regard, we will see storage facilities rapidly entering the system in Türkiye starting this year. When storage systems come into operation with a minimum capacity of 5 to 10 gigawatts in the next two-three years, they will provide great strength and flexibility to Türkiye’s electricity system,” he added.
