According to media reports, Turkey will expedite an auction for wind energy projects as it looks to speed up its renewable energy program.
Turkey’s Energy Market Regulatory Authority has announced that it will call for bids on 2 GW worth of wind energy projects in October next year, with the auction becoming a big part of the country’s target to have 20 GW worth of installed wind energy capacity by 2023.
Earlier this year, Turkey invited bids for 3 GW wind worth of energy capacity, and received a huge response from the prospective developers, with bids submitted for the development of over 42 GW worth of wind energy projects.
Turkey currently has an installed wind energy capacity of just over 4 GW from around 100 projects, as of the end of July this year.
Last month, the European Bank for Reconstruction and Development (EBRD) announced that it will provide $180 million to two Turkish banks for financing renewable energy projects being developed by private sector project developers. The banks will provide debt financing to project developers in the range of €10 million to €40 million per project.
EBRD has invested significantly in the Turkish Mid-size Sustainable Energy Financing Facility (MidSEFF) program, which has already financed 42 projects to date through seven Turkish banks, and has created over 700 MW in additional renewable capacity.
Turkey has set a target to acquire 30% of all its electricity needs from renewable energy sources by 2023. The Turkish government is also looking to promoting other renewable energy technologies, with targets to set up 34 GW worth of hydro power, 5 GW worth of solar power, 1 GW worth of geothermal power, and 1 GW worth of biomass-based power capacity, all by 2023.