New $16 billion investment in hydroelectric power


Turkey will invest $16 billion in hydroelectric power generation over the next four years, the energy commission formed as a part of 10th Development Plan said yesterday. Turkey has the most technically feasible hydropower potential in Europe, meaning that the potential for developing power generation from water sources is considerable. Moreover, Turkey's is even greater than that of Norway and Sweden, which trail Turkey in terms of potential. The investment in hydroelectricity will be the largest portion of the total $50 billion that Turkey will invest in energy from 2015 to 2018, as part of the government's 10th Development Plan. The plan's major guidelines are the diversification of Turkish energy sources, the commission said. Investment in nuclear energy and coal power generation are also on the agenda. Hydroelectric energy already constitutes an average of 20 to 25 percent of Turkey's total energy production. The share of natural gas in Turkey's energy portfolio is around 40 percent on average, an amount the commission would like to reduce. Increasing Turkey's alternative energy capacity is also significant for the reduction of hydrocarbon imports, which create a huge burden on the country's economy. To further reduce dependency on hydrocarbons, $11 billion will be invested into nuclear power generation over the same period. This year, Turkey plans to begin construction of the infrastructure needed for the Akkuyu nuclear plant, a four-reactor facility in the Mersin province on Turkey's Mediterranean coast. Power from the nuclear plant will replace about 10 percent of hydrocarbon-generated energy in Turkey's energy portfolio when it is fully operational.