Turkey Electricity (new Turkey Power Report)

Turkish thermal generation in 2007 was around 147 TWh, accounting for 11.36 percent of the regional total, whereas in 2013, it will account for 13.73 percent of thermal generation. For Turkey, gas was the dominant fuel in 2007, accounting for 31 percent of the primary energy demand (PED), followed by oil at 30.6 percent, coal at 30.5 percent, and hydro at 7.9 percent.

The country's power consumption is expected to increase from an estimated 147.8 TWh in 2007 to 176.7 TWh by the end of the forecasted period, while exports are foreseen to rise from an estimated 43.1 TWh in 2007 to a forecast 96.7 TWh in 2013, assuming 6.5 percent annual growth in electricity generation.

 Russia's Sberbank eyes acquisitions in Turkish banking industry 

German Gref, the CEO of Russia’s biggest bank, Sberbank, said their interest in the Turkish banking sector is still running high, even though Sberbank has backtracked from buying a stake in Turkey’s Garanti Bank. Gref said Sberbank is closely monitoring the Turkish finance industry, adding that the Turkish banking sector is still one of the leading strategic markets for Sberbank. “The dynamic commercial and tourism relations between Turkey and Russia are steadily improving. The Turkish banking sector is very strong and Turkish banks have many successful products and services, complete with an impressive technological infrastructure. In this sense, our interest in Turkey remains”, added Gref.

 Turkey to enter European top 3 in wind energy production 

Turkey has started to utilize its wind energy potential and will soon rank third among the top wind energy producers in Europe.

3,400 MW of additional power, 60 percent generated from wind energy, has been added to the country’s grid.

A rapid increase in the use of wind energy and added that serious steps are being taken at governmental level to put the country’s renewable energy sources to use.

 US company to invest USD 1 billion in Turkey’s solar potential 

Cleantech Circle of California, USA has decided to invest USD 1 billion in Turkey’s vast renewable energy potential.

Offering private equity investment and related advisory services, Cleantech Circle had initially decided to invest USD 10 million in the southeastern Turkish province of Mardin, but after thoroughly analyzing the country’s renewable resources, it upped both the scale of its projects and the amount of its investments. The company’s selected locations for its solar energy projects are Kirikkale and Konya in the Central Anatolia Region.

 Siemens’ “Made in Turkey” switchboards find market in 80 countries

Siemens Energy Power Distribution Division Manager Kerim Oal said the low and medium-voltage systems produced in Siemens’s Turkish plant are being exported to more than 80 countries. The International Electrotechnical Commission (IEC) approved medium-voltage switchboards, named Simoprime, NXAir and 8BT, are produced in Turkey by Siemens and are highly sought after in world markets. “The majority of our production in Turkey is exported to more than 80 countries, earning us the title “world supplier”, said Oal.

 Turkey, Greece and Italy sign gas deal

A new pipeline project to transfer Caspian gas to Europe has been forged between Turkey, Greece and Italy. The memorandum of understanding for the ITGI (Interconnector Turkey-Greece-Italy) pipeline project signed by the three countries will add another energy supply route for Europe transiting Turkey. The pipeline, slated to be completed by 2017, will carry Azeri gas, according to Turkey’s Energy Minister Taner Yildiz, who affirmed Turkey’s support for both Nabucco and ITGI.

The signing ceremony was attended by officials from the gas distribution companies of the three countries; Petroleum Pipeline Corporation (BOTAS) of Turkey, Edison of Italy and Depa of Greece. Bulgaria has expressed its willingness to join the pipeline, while Serbia and Romania are yet to decide.

The EU-backed ITGI project is one of the strategic elements of the four energy corridors feeding Europe. The pipeline will carry 10 billion cubic meters of gas annually from the Caspian basin to Greece, Italy and other European countries, making Turkey a key transit country for Europe’s energy supply.

 “Turkey has enormous potential in renewable energy” 

The International Renewable Energy Agency’s (IRENA) Director General Helene Pelosse said Turkey’s renewable energy potential is “enormous”, and described the country as “blessed with renewable energy sources.”

Speaking to the press after the 9^th World Wind Energy Conference (WWEC) held in Istanbul, Pelosse said, “The earlier you take action in the field of renewables, the greater your advantages are”, regarding the early stage of the renewable energy industry in Turkey.

“Turkey can improve its capacity with expertise before other countries and create employment for thousands of people”, said IRENA’s head, adding that Turkey could become the main recipient of renewable energy investments in the region.

 Foreign investor fervor for Turkey resumes 

Turkey is once again the favorite country for foreign investors. According to the Investment Support and Promotion Agency of Turkey (ISPAT), the number of companies interested in investing in Turkey is on the rise.

The National Bank of Kuwait (NBK), the shareholder of Turkish Bank, is now interested in Tekstilbank and Anadolubank. Meanwhile, Kuwait Investment Administration, which has acquired Cevahir Shopping Mall, is now considering taking part in healthcare and hotel projects. Japan’s Toshiba Corporation is also interested in nuclear energy projects in Turkey. The global hotel chain Oberoi will build a five-star hotel in Istanbul, with additional hotel projects in Antalya, Izmir and Ankara in the pipeline. The Indian software giant Wipro is another global name to be investing in Turkey

 FDI flow to Turkey from the Gulf reaches USD 30 billion

Foreign direct investments from the Gulf countries to Turkey have reached USD 30 billion. The Saudi companies Oger Telecom, Swicorp, NCB, and Saudi Cable; the Qatari companies Doha Bank and Almana Group; the UAE’s Abraaj Capital, Emaar, and Gultainer Co. Ltd.; the Kuwaiti companies NBK Capital, Kuwait Finance House, Al Shaya, NBK, ST Martins, and Alghanim Industries; and Bahrain’s Unicorn Investment Bank and TAIB have made significant investments. Turkey’s special interest in increasing trade with the region has also paid off, as the country’s exports to the Gulf region have tripled in the last seven years.

 EnBW to invest EUR 3.5 billion in energy projects in Turkey

The German electric utility company EnBW will invest EUR 3.5 billion in Turkey’s renewable energy industry. EnBW and its Turkish partner Borusan Holding will establish a 2,000 MW-installed power capacity to address the country’s growing power needs.

“Renewable energy sources such as wind and hydro are our current priorities”, said EnBW’s CEO Hans-Peter Villis, giving an interview to the press about their investments in Turkey. “Our wind energy plant in Bandirma has recently become operational, and the hydro plant over the Firat river will come into stream in a couple of months”, Villis told reporters, adding that Turkey’s Southeastern Anatolia region offers various investment opportunities. While EnBW is focused primarily on power production in Turkey, the company may also assess opportunities in high-voltage and power grids, according to Villis.

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