Türkiye has pledged to double renewable energy generation capacity by adding 60 GW of solar and wind by 2035 and announced a plan to invest USD 10 billion in the grid. According to the World Bank, the country’s entire initiative is estimated at USD 75 billion to USD 100 billion.
The country’s total installed capacity has now exceeded 106 GW and that the share of renewables reached 50%.
Türkiye’s projections show its total installed capacity will increase to 190 GW by 2035, including 60 GW of renewable electricity plants, he added in the statement for the panel Transforming Türkiye With Sun, Wind, And Smart Grids: New Targets To Net Zero.
For this reason, the government is developing a green grid with strong interconnectivity that can handle the expected increase in renewable capacity. The investments are projected at USD 10 billion by 2030, he announced.
E-mobility
The joint venture between Koç Holding, Türkiye’s largest industrial conglomerate, US automaker Ford and South Korean battery manufacturer LG Energy Solution to build a battery plant for commercial electric vehicles near Ankara is not going ahead.
“Considering the current pace of electric vehicle adoption, the timing is not appropriate for a battery cell investment,” Koç Holding said in a filing adding that it would now concentrate on EV production at its Koçaeli plant, a joint venture with the Turkish unit of Ford.
Despite the latest new, Türkiye may still get a keystone EV investment. In September, President Tayyip Erdogan asked Tesla CEO Elon Musk to build a factory in the country when the pair met in New York. It is expected that for the MENA region Türkiye and Saudi Arabia are the candidates.
Türkiye is one of the fastest growing EV markets globally albeit from a low base. From January through August 2023 more than 30,000 full-electric and hybrid passenger cars were registered in the country, a six-fold jump compared to the same period in 2022.
In August, EVs represented nearly 9% of all new vehicles sold in Türkiye. Full electric cars (BEV) made up 63% of the domestic EV market and plug-in hybrids (PHEVs) made up the bulk of the remainder.
Turkish electric carmaker Togg, which only opened its assembly plant in October 2022, is off to a great start with its medium sized full-electric SUV, the Togg T10X.
Based on data from the Adamas Intelligence EV Battery Capacity and Battery Metals Tracker, the T10X has cornered 17% of the domestic market in terms of overall battery capacity deployed during the first eight months of the year, an achievement considering Togg only began shipping the model in May.
Siro, Togg’s joint venture with China’s Farasis Energy, supplies batteries to its expanding model line-up. Based on battery capacity deployed so far this year, the AI Tracker shows Türkiye sits outside the top 20, just behind Taiwan but ahead of countries like Poland, Mexico and Brazil.
