U.S., China, Germany and Denmark form consortium to bid for renewable energy projects in Turkey

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U.S., China, Germany and Denmark form consortium to bid for renewable energy projects in Turkey

Turkey’s efforts to enable more active use of domestic and renewable resources have come to fruition. The Energy ministry has made a move to attract nearly $5.4 billion investment to wind energy in 2017.

Last month, Turkey completed the 710 megawatt tenders in 11 different regions with a total investment amount of around $1 billion. The companies’ applications for the competitions were taken April 24-30, 2015.

The tender process for pre-license applications for the 2,290-megawatt wind power plants, with an investment value of $3 billion, is expected to be completed by the end of the year.

Successful bidding companies will be able to actualize the investment after the pre-license, license and construction permission processes, which will last for about 3 years.

Turkey also began to receive bids on July 22 as part of its first renewable energy resource project in wind energy. With a renewable energy resource project totaling 1,000 megawatts of wind power, an investment of approximately $1.4 billion will be actualized. The investor with the lowest bid will sign a 15-year electricity sale contract. Up to now, two consortia have announced preparations for the tender, while the ceiling price per kilowatt-hour will be 7 cents at the reverse auction.

Reportedly, companies from a number of countries, especially the U.S., China, Germany and Denmark, have already formed a consortium to bid in the competition.

On the other hand, Turkey, which currently has $6,400-megawatts of installed wind power, will need to invest a total of $19 billion in order to achieve the targeted 20,000 megawatts in 2023.

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