Turkey Wind Power Market Outlook 2019÷2028 - Single User

This market report offers an incisive and reliable long-term overview of the wind sector of the country for the next long period 2019 ÷ 2028. In view of recent cuts in FIT’s announced in Germany, Spain, France, UK, Czech Republic, Slovakia, Bulgaria and Italy, Turkey represents a stable investment environment in South-East Europe with clear rules and green certificates support scheme. Current cumulative installed wind capacity in the country is growing fast and Turkey is one of the best performers amongst SEE countries between 2008 and 2018.

Wind power in the country grew by 7.5% YoY, from 6,516MW (6.52 GW) in 2017 to 7,005MW (7 GW) in 2018. The report provides a complete picture of the market situation, dynamics, current issues and future prospects. You will find more than 120 pages of valuable information in this unique in-depth analysis of the Turkish wind market. With comprehensive market data this report brings clear and concise insights, to help investors in their decision making process. For your convenience we offer opportunity for orders with customized report content. Reasons to buy this market report are, but no limited to:

• Overview of the Turkish political and economic environment (PEST analysis)
• Wind resource potential in Turkey
• Financial Model and Analysis of 50 MW Wind Power Plant investment inTurkey (IRR, WACC, Payback, NPV, Cash Flow, etc.)
• Over 55 charts, tables and maps
• Overview of Turkish wind market development 2008 ÷ 2028
• Grid connected wind power installations
• Future market trends and planned wind projects for 2019 ÷ 2028
• Market prices of fully permitted and operational wind projects
• Turkish legal and energy regulatory framework for renewable projects
• Key companies and competitive landscape in wind sector
• Review of most relevant financing and supporting incentives
• SWOT Analysis (detailed in 5 pages)

At next pages you will see the full table of content of this report. To order this report just click on the button "ADD TO CART". If you have any other questions please do not hesitate to call us on ++44 203 60 80 138 or write an e-mail to orders@renewablemarketwatch.com

TABLE OF CONTENTS    3
FOREWORD    8
1    METHODOLOGY AND LIMITATIONS    10
1.1    Research Methodology    10
1.2    Limitations    11
2    EXECUTIVE SUMMARY    12
2.1    Historical and Current Development Overview of Wind Power Market in Turkey    12
2.2    Turkey Wind Resource Potential    13
2.3    Key Stakeholders Affecting Wind Power Market Development in Turkey    13
2.4    Market Drivers and Constraints    14
2.5    Mandatory Engineering Measurements for Wind Power Projects in Turkey    15
2.6    Amendments in Renewable Enerrgy Sources (RES) Legislation in Turkey for Unlicensed Market Segment (< 1 MW)    15
2.7    Market Forecast Summary    15
3    TURKEY POLITICAL AND ECONOMIC ENVIRONMENT. PEST ANALYSIS    17
3.1    Basic Country Data    17
3.2    Political Climate and Ruling Party    20
3.3    GDP and Economic Growth    22
3.4    Taxes    26
3.4.1    VAT    26
3.4.2    Income and Corporate Taxes    27
4    CENTRAL-EAST EUROPE (CEE) AND SOUTH-EAST EUROPE (SEE) POWER MARKET    28
4.1    General Electricity Market information    28
4.2    Wind Power in Energy Sector    34
4.3    Single Electricity Market    37
5    CENTRAL-EAST EUROPE (CEE) AND SOUTH-EAST EUROPE (SEE) WIND POWER MARKET    40
5.1    Market Overview    40
5.2    Cumulative Installed Wind Power Capacity and Revenue    41
5.3    Annual Installed Wind Power Capacity and Revenue    42
5.4    Future Development Trends    43
6    TURKEY POWER MARKET    44
6.1    Electricity Transmission and Distribution    44
6.2    Electricity Consumption and Generation    47
6.3    Electricity Imports and Exports    48
6.4    Electricity Prices for Business and Households    50
6.5    Renewable Energy Sources (RES) Targets    51
7    TURKEY WIND POWER MARKET    54
7.1    Why Invest in Wind Power Power in Turkey?    54
7.2    Turkey Wind Resource Potential    55
7.3    Licensing Period Duration    57
7.4    Regional Substation Capacities for Wind Power Projects in Turkey    58
7.5    Overview of Wind Power Market in Turkey    58
7.6    Market Structure Analysis    62
7.7    Investment Trends and Development Roadmap    62
7.8    Competitive Environment in Licensed Wind Power Market    62
7.9    Competitive Environment in Unlicensed Wind Power Market (< 1 MW)    64
7.10    Profiles of Key Players and Investors in Licensed Wind Power Market    65
7.11    Profiles of Key Players and Investors in Unlicensed Wind Power Market (< 1 MW)    66
7.12    Cumulative Installed Wind Power Capacity and Revenue    66
7.13    Annual Installed Wind Power Capacity and Revenue    68
7.14    Market Prices for Wind Power Projects in Turkey in Development, Ready to Build and Operational (Grid Connected) Condition    69
7.15    Key Cost Structure Elements of Wind Power Plant in Turkey    70
7.16    Levelized Cost of Energy (LCOE) for Wind Power in Turkey    70
7.17    Key Wind Power Projects in Turkey Under Development    71
7.18    Mergers and Acquisitions    75
8    DRIVERS AND CONSTRAINTS OF WIND POWER MARKET IN TURKEY. SWOT ANALYSIS    77
8.1    Market Drivers    77
8.2    Market Drivers Explained    77
8.3    Market Constraints    78
8.4    Market Constraints Explained    78
8.5    SWOT Analysis    78
9    FINANCIAL ANALYSIS OF WIND POWER MARKET IN TURKEY    81
9.1    Financing Options of Wind Power Projects in Turkey    81
9.2    Financial Model and Analysis of 5o MW Wind Power Plant investment in Turkey (IRR, WACC, Payback, NPV, Cash Flow, etc.)    87
10    TECHNOLOGY ANALYSIS    89
10.1    Wind Power Technology Overview    89
10.2    Technology Trends    90
11    EUROPEAN RENEWABLE ENERGY POLICY LANDSCAPE    93
11.1    RES Regulations and EU Directives    93
11.1.1    Precedent EU regulations    94
11.1.2    Most recent EU renewable energy policy developments    94
12    TURKEY RENEWABLE ENERGY SOURCES (RES) LEGAL AND REGULATORY FRAMEWORK    95
12.1    Main Laws and Regulations    96
12.2    Support Schemes    97
12.3    Mandatory Engineering Measurements for Wind Power Projects in Turkey    98
12.4    Competition Regulation (Tender Procedure)    99
12.5    Zoning, Planning and Construction Related Authorizations    100
12.5.1    Zoning Plans Procedure    100
12.5.2    Building Permit (Construction License) Procedure    100
12.5.3    Operation License Procedure    101
12.6    Environmental Related Authorizations    101
12.6.1    Natura 2000 Network    102
12.6.2    Clean Development Mechanism (CDM) and Joint Implementation (JI)    102
12.7    Energy Law Authorizations    103
12.7.1    Power Generation Licensing and Unlicensed Power Generation Below 1 MW    103
12.7.2    Grid Interconnection    105
12.7.3    Power Off-Take    105
12.7.4    Feed-in tariff (FIT)    105
12.7.5    RES Certificates (Guarantees of Origin)    107
12.7.6    Amendments in Renewable Energy Sources (RES) Legislation in Turkey for Unlicensed Market Segment (< 1 MW)    107
12.8    Additional Incentives for Domestic Procurement    108
12.9    Future Market Pricing Mechanisms    109
13    KEY STAKEHOLDERS AFFECTING WIND POWER MARKET DEVELOPMENT IN TURKEY    110
13.1    Government Stakeholders    110
13.2    Non-Government Stakeholders    112
13.3    Electricity Generation, Transmision System Operator (TSO) and Distribution System Operators (DSO’s)    113
14    CONCLUSIONS AND RECOMMENDATIONS    117
15    LIST OF ABBREVIATIONS    120
16    REFERENCES    122
17    DISCLAIMER    124
APPENDIX I. WIND RESOURCE MAPS OF EUROPE AND TURKEY    126

Map 1: Where is Turkey on the World Map    17
Map 2: Major Transport Corridors Passing Through Turkey    18
Map 3: Turkey Regions    19
Map 4: Turkey Electricity Grids Network    46
Map 5: Wind potential of Turkey at 80 m.a.g.l     56
Map 6: Turkey Wind Speed and Power Density Map at 50 m    57
Map 7: Hydro Power Plants of EUAS    116
Map 8: Thermal Power Plants of EUAS    116
Map 9: Districts Covered by TEDAS and DSO’s    117
Map 10: Turkey Mean Wind Speed at 80 m.a.g.l    126
Map 11: Mean 80-m Wind Speeds in Europe   126
Map 12: Global Mean Wind Speed at 80 m.a.g.l  127
MAP 13: European Wind Atlas    128
MAP 14: Unrestricted Technical Potential for Onshore Wind Energy up to 2030   129

Chart 1: Real GDP Growth for the Period 2008 ÷ 2028 (including forecast) 23
Chart 2: Turkish GDP Growth Compared to EU-27 for the Period 2008 ÷ 2028 (including forecast) 24
Chart 3: Corporate Tax Income in Selected Central-East Europe (CEE) and South-East Europe (SEE) Countries 25
Chart 4: Physical Energy Flows Values in GW in Central-East Europe (CEE) and South-East Europe (SEE) in 2019 28
Chart 5: Share of Renewables in Electricity Generation in Selected Central-East Europe (CEE) and South-East Europe (SEE) Countries, 2019 (in %) 30
Chart 6: Average Base Load Electricity Price in Selected European Countries (EUR/MWh): 2009 - 2019 31
Chart 7: Forecast for RES Generation Capacity by Source Type in the EU to 2020 and 2030 (in GW) 32
Chart 8: Net Power Generation Added Capacities in the EU 28 in 2019 (MW) 33
Chart 9: Age of Power Plants in Europe in 2019 34
Chart 10: Share of New Power Generation Capacities Added in the EU 28 in 2019 (MW) 35
Chart 11: Installed Power Generating Capacity per Year (MW) and Renewable Share (in %) 2000 – 2019 35
Chart 12: New Installed and Decommissioned Power Generation Capacity in the EU 27 for 2019 (GW) 36
Chart 13: Cumulative Installed Capacity of Wind Power Plants (in MW) in Central-East Europe (CEE) and South-East Europe (SEE) 2008 ÷ 2028, including forecast 40
Chart 14: Cumulative Revenue of Wind Power Plants (in Millions USD) in Central-East Europe (CEE) and South-East Europe (SEE) 2008 ÷ 2028, including forecast 41
Chart 15: Annual Installed Capacity of Wind Power Plants (in MW) in Central-East Europe (CEE) and South-East Europe (SEE) 2008 ÷ 2028, including forecast 41
Chart 16: Annual Revenue of Wind Power Plants (in Millions USD) in Central-East Europe (CEE) and South-East Europe (SEE) 2008 ÷ 2028, including forecast 42
Chart 17: Existing and Planned High Voltage Interconnection Power Lines of Turkey with Neighbor Countries 43
Chart 18: Historical Structure of Power Market in Turkey from 1983 to 2019 44
Chart 19: Share of RES Electricity from Total Installed Power Capacity in Turkey in 2019 46
Chart 20: Turkey Total Annual Electricity Consumption (in TWh) 2000 ÷ 2019 47
Chart 21: Turkey Power Generation Capacity Breakdown by Source (Fuel) Type in 2019 47
Chart 22: Electricity Imports and Exports in Turkey 2008 ÷ 2028 (in TWh) including forecast 48
Chart 23: Turkish Targets for Renewable Energy Sources by 2023 (in %) set by the State Planning Organization 51
Chart 24: Cumulative Installed Capacity of Wind Power Plants in Turkey (in MW) 2008 ÷ 2028, including forecast 65
Chart 25: Cumulative Revenue of Wind Power Plants in Turkey (in Millions USD) 2008 ÷ 2028, including forecast 65
Chart 26: Annual Installed Capacity of Wind Power Plants in Turkey (in MW) 2008 ÷ 2028, including forecast 66
Chart 27: Annual Revenue of Wind Power Plants in Turkey (in Millions USD) 2008 ÷ 2028, including forecast 67
Chart 28: Market Prices for Unlicensed Wind Power Projects in Turkey for 2019 ÷ 2028 in Development, Ready to Build and Operational (Grid Connected) Condition (2019 update) 68
Chart 29: Levelized Cost of Energy (LCOE) for Wind Power in Turkey 69
Chart 30: TURSEFF Structure 81
Chart 31: Cumulative Cash Flows and Break-Even Point of 50 MW Wind Power Plant Investment in Turkey 88
Chart 32: Wind Power System Price Evolution (€/MW) 1990 ÷ 2019 91
Chart 33: Market Shares by Sales of the Major Electricity Distribution Companies in Turkey in 2019 113

Table 1: Electricity Prices for Business and Households 49
Table 2: Support Schemes for RES Generation in the EU Countries and Turkey 53
Table 4: Market Prices for Licensed Wind Power Projects in Turkey for 2019 ÷ 2028 in Development, Ready to Build and Operational (Grid Connected) Condition (2019 update) 67
Table 5: Key Cost Structure Elements of Wind Power Plant in Turkey 68
Table 6: Database with Major Operational (Grid Connected), Under Construction and Planned Wind Power Projects in Turkey 71
Table 7: Key Financial Parameters of 50 MW Wind Power Plant Investment in Turkey 87
Table 8: Key Financial Viability Indicators of 5 MW Wind Power Plant Investment in Turkey (IRR, NPV, Payback, Benefit-Cost) 87
Table 9: Project Costs and Savings (Income) Summary of 50 MW Wind Power Plant Investment in Turkey 88
Table 10: Yearly Cash Flows of 50 MW Wind Power Plant Investment in Turkey (Pre-tax, After-tax, Cumulative) 89
Table 11: Wind Turbine Prices in 2019 92
Table 12: Feed-in-tariffs for Electricity from Renewable Energy Sources (RES) in Turkey 106
Table 13: Additional Incentives to Feed-in-tariffs for Electricity from Wind Power sources in Turkey for Domestic (Local) Procurement Elements 110