Turkey is giving all the right signals to attract investments from the international wind energy sector, said an official of Global Wind Energy Council, GWEC on Tuesday.
Payment terms and guaranteed prices in Turkey's wind energy market are very attractive to wind energy investors as the Turkish market continues to flourish, according to Dr. Klaus Rave, chairman of the Global Wind Energy Council.
The country has moved up one step to its global position to eighteenth in renewable energy investment attractiveness, according to Ernst & Young’s 2015 index, published in March 2015.
According to the index, Turkey which is diversifying into a hot spot for renewable energy investments in mainly in hydro, wind and the solar sectors, ranked eighteenth after Denmark and came just before Portugal in the 40-country list.
In addition to the Ernst & Young’s 2015 index, he stressed that previously Turkey ranked fifth in Europe and is in the top ten in the global ranking of wind energy investments, according to GWEC data.
He emphasized that there is a positive growth which is reflected in the statistics.
"This makes the country a good place to invest because there is a critical investment mass already in Turkey."
He explained some of the benefits of Turkey's wind energy investments.
"It is attractive because the country has a ten year guarantee tariff which is slightly better than the actual market price in Europe. This makes it more attractive than two years ago, considering the additional five percent incentive given to donors for local production.
- Administrative procedures need to be improved in parallel with renewable potential
"You need to apply for the license in Turkey and later you have to wait for grid access. Finally you have to apply for a permit which monitors environmental standards. I think what is lacking here is better coordination and synchronization of these procedures between the authorities and the investors," he explained.
He said the three levels of decision-making takes time and money, and "Time is money," he added.
"If there could be a one stop shop which coordinates all the necessary administrative permits, that would be a great improvement indeed," he added, and said that this coordination is what the Turkish market needs in order to have further improvements and to be even more attractive.
He underlined that Turkey is a bridge not only between continents, but can act as a bridge for knowledge transfer as well.
"Investments in Turkey reflect those in other countries as well," he said, and added that Georgia and Kazakhstan will diversify its renewable energy sources and additionally, Jordan is going to invest in its first 100MW wind farm.
By Gulsen Cagatay and Arif Hudaverdi Yaman