Türkiye's Energy Sector on the Rise: Balancing Hydrocarbons and Renewable Energy for a Brighter Future
Key Ideas
- Türkiye experienced breakthroughs in hydrocarbons and renewable energy in 2024, leading to a more predictable energy market from 2025 onwards.
- Significant advancements in oil extraction in Gabar and increased wind and solar energy targets for 2035 demonstrate the country's commitment to diversifying its energy sources.
- The focus on green hydrogen projects globally, coupled with Türkiye's national energy strategy's green hydrogen road map, highlights the country's determination towards sustainable energy solutions.
- The development of offshore wind farms, particularly near Izmir and Aegean coasts, will provide Türkiye with additional renewable energy sources and economic opportunities in the coming years.
In Türkiye, 2024 marked a pivotal year for the energy sector, witnessing substantial progress in both hydrocarbons and renewable energy. Murat Dilek, Chairperson of the Global Energy Association, highlighted the expansion of natural gas and oil exploration activities, emphasizing the significant developments in oil extraction, particularly in Gabar. Türkiye aims to quadruple its wind and solar energy power capacity by 2035, setting ambitious targets for a greener future. With new initiatives such as the HIT-30 program and the emphasis on renewable energy models and storage, Türkiye is on track to establish a more predictable energy market in 2025.
Yusuf Günay, President of the Green Hydrogen Producers Association, underlined Türkiye's progress in the green hydrogen sector and the importance of establishing dedicated authorities and industrial zones for green hydrogen production. Meanwhile, Murat Durak, Chairperson of the Offshore Wind Energy Association, discussed the developments in offshore wind farms, foreseeing investments in nearshore wind farms along the Izmir and Aegean coasts.
Globally, there is a growing commitment to renewable energy, with significant investments in green hydrogen projects in the U.S. and the establishment of energy corridors from Northern Europe and Azerbaijan to the EU. China's dominance in solar panel production and electrolyzers underscores the shift towards sustainable energy solutions. Türkiye's strategic focus on renewable energy and green hydrogen, coupled with advancements in offshore wind farm projects, sets a promising trajectory for the country's energy sector, ensuring a more sustainable and diverse energy mix for the future.