Recently, Erdogan held an inauguration ceremony in Ankara, announced the re-election of the President of Turkey, and announced the list of members of the new cabinet. With the establishment of the new government, the Turkish government officially changed from the parliamentary system to the presidential system.
As the first president under the new system, Erdogan has been in charge of Turkey for 15 years, but still made many new big moves, and the energy industry is no exception. Earlier, the Turkish government issued a new energy policy, proposed 'Independent energy, strong Turkey'. Foreign media believe that Erdogan's current presidential power is 'unprecedented', which will help him achieve his own 'energy boom'.
Accelerate the construction of nuclear power plants
According to the Turkish government agency report "ResmiGazete", on the day of Erdogan's inauguration, Turkey established a new national nuclear power agency to manage the nuclear energy sector, especially the supervision of the work of the Turkish nuclear power plant. At the same time, Erdogan also announced that it will build a third nuclear power plant in Turkey.
Erdogan said: 'The Akkuyu nuclear power plant, which was previously built, will meet 10% of Turkey's energy needs. The second nuclear power plant will meet 10% or more of energy demand. Next, we will have the opportunity to build ourselves. The third nuclear power plant. '
At the beginning of April, the Akkuyu nuclear power plant held a groundbreaking ceremony in Ankara. This is the first nuclear power plant in Turkey, costing 20 billion US dollars. It is understood that the nuclear power plant will have four nuclear reactors, each with a capacity of 1,200 megawatts. The island's highest safety standard, built by the Russian National Atomic Energy Corporation (Rosatom). 'The first nuclear power plant is expected to contribute $58.7 billion to Turkey's GDP.' Erdogan added.
Turkey's second nuclear power plant is the Sinop nuclear power plant. It was signed in 2013 by Turkey and the Japanese-French consortium. It plans to invest 20 billion US dollars. According to Reuters, Erdogan has discussed with Japan's Prime Minister Shinzo Abe to speed up construction. The matter of the nuclear power plant.
According to industry insiders, the surge in energy demand and high external dependence are the main reasons why Turkey favors nuclear power. The development of nuclear energy will help Turkey reduce its dependence on imports of oil, natural gas and coal.
Expand investment in coal and electricity industry
Erdogan has always had a soft spot for coal. On the occasion of the June election, Erdogan said that it would expand local coal power on a large scale. Previously, the Turkish government also said that in order to get rid of dependence on Russian natural gas, I plan to invest billions of dollars in the coal industry.
Erdogan supports the development of coal. On the one hand, it is worried that excessive dependence on foreign countries will damage Turkey's energy security. On the other hand, according to Turkish government data, coal-fired power accounts for more than 20% of the country's total energy demand. , is the main source of electricity in Turkey.
It is understood that the Turkish government has listed coal as the fuel of choice for future plans. Its energy targets for 2023 include increasing the installed capacity of coal-fired power generation from 17.3 GW to 30 GW and reaching 50 GW in 2030.
But a recent poll conducted by the Turkish climate information center and research firm Konda shows that most Turks support renewable energy rather than coal and are concerned about climate change.
Industry analysts believe that Turkey's vigorous development of the coal industry is a 'historic mistake', and large-scale investment in the coal industry is unlikely to be rewarded, and renewable energy is a better choice for continued investment.
When the global energy transformation is underway, if the Turkish banking industry underwrites the coal project, the Turkish bank may face the risk of default and stranded assets in the context of accelerating global dependence on fossil fuels.
Developing renewable energy
Renewable energy is a very promising area in Turkey. According to Turkey's plan, renewable energy installed capacity will account for 30% of the country's total installed capacity by 2023, with particular emphasis on the development of photovoltaics and wind power.
According to data released by the Turkish Energy Market Authority (EMRA), the installed capacity of photovoltaic power generation in Turkey increased from 0.95 GW to 3 GW in 2017, an increase of 217%.
According to industry media "Photovoltaic Magazine", the Turkish government agreed to provide foreign currency loans for approved 1 MW unlicensed photovoltaic projects (hereinafter referred to as unlicensed photovoltaic projects).
The Turkish Solar Energy Association said that previously, Turkey's renewable energy foreign currency loans only applied to more than 1 MW of licensed projects selected according to specific tenders, and such PV projects accounted for only a small portion of the country's installed capacity.
In early May, the Turkish government amended the provisions of Decree No. 32, which protects the value of Turkish currency. The government said that the amendment is conducive to the financing of small-scale photovoltaic power plants. However, the new provisions of the statute further restrict the use of foreign currency financing for small-scale photovoltaic farms. possibility.
The newly released foreign currency loan policy has reversed this unfavorable situation, which can reduce investors' trading risks while maintaining the strong development of unlicensed PV.
On the other hand, wind energy is Turkey's largest non-hydro renewable energy source with a total generating capacity of 6.5 GW. According to the oil price network, the Turkish government will apply for the construction and operation of an offshore wind farm by October 23, the wind power. With a designed installed capacity of 1,200 megawatts, it will be the world's largest offshore wind farm.