Conexio consulting

World giant NORDEX GOUP to invest $1.09 billion in wind energy in Turkey

Spanish-German multinational wind energy company giant Nordex Group has announced an additional investment of $1.09 billion to expand its onshore wind energy stake in Turkey. Last year, $763 million worth of wind energy equipment was produced in Turkey. Most of this equipment was exported to Europe.

Nordex sees Turkey as a wind energy gem

Jose Luis Blanco, CEO of Nordex, stated that the company aims to add 1 GW of wind energy next year, in addition to its existing 3.5 GW of installed capacity. Blanco points out that Turkey can play an important role in the wind energy sector, noting its young population, large surface area and onshore investment opportunities.

Blanco highlighted the increase in supply chains and equipment manufacturing capacity in Turkey following the supply constraints. According to Blanco, Turkey can pioneer the wind energy supply chain and provide an alternative supply to Asia.

Blanco emphasized that Turkey’s progress in wind equipment manufacturing will further contribute to both the options it offers to investors through renewable energy legislation and the employment of a young and skilled workforce involved in wind equipment manufacturing.

With the gradual increase in the country’s wind power installed capacity, the share of wind energy in electricity generation has also increased. Nordex Group is the market leader in the Turkish wind energy sector, where it produces half of the wind farm towers Europe needs.

Turkey continues to make progress in the energy sector. In the first weeks of March, Turkey signed an important agreement with Somalia to utilize energy potentials in the African continent. The agreement included the exploration, evaluation, development and production of resources between the two countries within the scope of offshore oil and natural gas cooperation.