Pre-licenses for renewables based storage projects in Türkiye to spur $1.5 of initial investment

A total of 12 pre-licenses with a capacity of 744 megawatts (MW) have been granted for the installation of solar- and wind-based electricity storage facilities, which will create an initial investment of $1,5 billion in the sector, the head of Turkey’s energy regulatory authority said Saturday.

The high volume of applications for capacity reflects positive investor appetite and potential in the country, the head of Türkiye’s Energy Market Regulatory Authority (EMRA), Mustafa Yilmaz told Anadolu.

‘The total application has reached 4,369 up till now,’ he said and added that the installed power capacity for the total of these applications corresponds to approximately 221,000 megawatts.

He stated that the installed power of applications for the wind energy-based storage electricity generation is 113,500 MW, while it is 107,500 MW for solar energy.

According to Yilmaz, the high volume of applications may push the final investment figure up to $40–45 billions on the ground.

‘We said that our electricity storage regulation is a groundbreaking development in renewable energy sector. The investment demand of $270 billion for electricity storage in renewables sector has confirmed the accuracy of this prediction,’ he explained.

‘We carried out this regulation believing in our country’s potential and with a trust in our investors. We already see that the regulation on electricity storage facilities marks a new era in our energy sector,’ he said.

He explained that the new regulation is not only important in terms of investment volumes but also for employment and the development of domestic battery technologies in Türkiye, while also contributing to country’s energy security and grid flexibility.

– Renewables to grow in Türkiye

Türkiye’s current renewable capacity accounts for over half of the country’s total installed power capacity, which stood at 104,488 megawatts by April 7.

After hydropower capacity of around 31,600 megawatts, wind is the second-biggest renewable source of electricity at 11,490 megawatts. Türkiye’s installed solar power reached 9,820 megawatts at the same period.

• Turkey's energy regulatory authority