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General Information
• Turkey is the 7th biggest energy market in Europe. • Privatization of energy market has started in 2002. • Energy demand is expected to grow by 8 % annually, which leaves Turkey among the 5th fasted growing energy markets worldwide. • In order to avoid energy shortage annual investments of app. 3 billion US$ are obligatory. • Planned investments are 120 billion US$ for the energy sector until 2020. • Currently only 30% of the energy demand can be covered with own resources and 70% needs to be imported. With energy demand increasing, energy imports are likely to rise as well. • This dependency also leads to a very high pricing for energy in comparison with other countries. • Additionally Turkey has joined the Kyoto Protocol to reduce her green house gas emissions • In respect of EU Accession talks the energy capital is planned to be opened soon. For EU member states the percentage of renewable energy is planned 20% until 2020 • Therefore investments in renewable energy and energy efficiency projects are of high importance to Turkey, however in order to realise this international know-how is needed • World Bank has announced that it will approve a US$600 million loan to fund energy efficiency and renewable energy in Turkey. The financing includes US$100 million from the Clean Technology Fund (CTF), a new US$5.2 billion multilateral fund managed by the World Bank to provide low-interest financing to scale up low carbon technologies to reduce greenhouse gas emissions. |
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