Conexio consulting

Offshore Wind Power Plants Turkey

wind power plants turkey


Özlem Kıldır, General Manager of Profinstance Consulting,talked about the financial and commercial investment in offshore wind power plants in Turkey, in particular, in the “TR22 Region Offshore Wind Power Plant and Port Pre-Feasibility Report” conducted with academics and the Southern Marmara Development Agency.

According to the 2023 Global Wind Energy Report prepared by the Global Wind Energy Council (GWEC), the installed power of wind energy worldwide has reached approximately 906 GW levels today. As of 2022, 842 GW of the installed power consists of onshore wind power plants (WPP), while the remaining 64 GW consists of offshore WPPs.

Turkey is increasing its energy investments due to its increasing population, being a developing country and being dependent on foreign energy. The capacity increase in renewable energy in recent years is the most important proof of this. For example, wind energy has reached 11.1 GW by 2021 from 2.3 GW of installation capacity in 2012.

According to World Bank data, Turkey’s offshore WPP technical potential has been determined as 75 GW (World Bank, 2019). Of this, 12 GW will consist of fixed-based WPPs, while 63 GW of this will be provided by floating WPPs.

Under the Pre-Feasibility Report of the TR22 Region Offshore Wind Power Plant and Port by the Southern Marmara Development Agency, which carries out its activities under the coordination of the General Directorate of Development Agencies of the Ministry of Industry and Technology, an offshore wind farm on the shores of Southern Marmara (Balıkesir and Çanakkale provinces) and these power plants are located. Candidate regions have been determined within the scope of the pre-feasibility study of the ports that can serve, and suitable areas have been determined within these candidate regions.

Considering the electricity prices in Turkey and Europe, it is understood that electricity can be produced at low prices with the said project. Assuming that the project will be the first project in Turkey, break-even electricity prices were found to be quite competitive. In addition, with the increase in offshore WPP projects in Turkey, it is expected that prices will decrease further and opportunities for cheaper electricity generation will occur.

When we look at the results of the financial analysis in general terms, it is seen that the project examples for Turkey are at a more competitive level compared to the periods when the projects in Europe first started, although the European region has come to a lower level over time thanks to cost reductions, productivity increases and financing cost advantages. In this sense, it can be said that it is at an important stage.