GeriGündem Turkey to focus on geothermal energy projects-energy minister
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Turkey to focus on geothermal energy projects-energy minister

Turkey to focus on geothermal energy projects-energy minister
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ISTANBUL - Turkey plans to launch around $120 billion-worth of investment for energy by 2020 with the major part of these will be constituted to the geothermal energy projects, energy minister said on Monday.

"With the introduction of the regulations and the legal procedures, we are now looking forward to submitting this environment friendly energy type in Turkey," Hilmi Guler said at GeoFund Geothermal Workshop in Istanbul.       

 

The workshop focusing on attracting investor attention in geothermal energy in Europe and Central Asia (ECA) as part of the World Bank's Geothermal Energy Development Program (GeoFund).

 

"The ratification of Kyoto protocol and implementation of the renewable energy act provided the necessary tools for the investors looking into Turkey's renewable energy area," Guler added.

 

The new regulations in electricity prices would also increase competitiveness in the market, Guler also said.

 

An official from the World Bank GeoFund said with the right market conditions Turkey is expected to be the largest GeoFund country in the workshop which was organized under the cooperation of the World Bank Partnership International, an agency providing regulatory, institutional, technical and financial advice to clients on infrastructure investment projects.

"Turkey has tremendous resources in terms of geothermal energy. With the right market conditions, Turkey would be the largest GeoFund country in. We believe that Turkey would be the model geothermal country in its region," Helmut Schreiber said in his speech.

  

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