Investigation of the factors affecting wind energy investments in türkiye

In Türkiye, it can be observed a remarkable development in the renewable energies, particularly in the last ten years (IEA, 2021). The renewable electricity production has increased three times in the last ten years. In 2022, wind power installed capacity reached 11 944 MW in Türkiye (TWEA, 2023).The renewable share in the total power production attained 52 per cent in 2020 (MENR, 2022). Türkiye is expected to attain even surpass the target of 38.8 per cent of power production from the renewable energies determined with Eleventh Development Plan between 2019 and 2023 (IEA, 2021). Türkiye possess several ambitious goals for example Türkiye plans to reach 29,6 GW wind installed capacity in 2035 (MENR, 2022). In Türkiye, it is very important to raise the share of wind power in the domestic energy resources. Especially, wind energy can contribute to decrease the trade deficit of Türkiye. Also, Türkiye's population increases over the years therefore Türkiye needs to produce more energy to cover its population's energy demand. In this context, the investment in wind power is very vital for Türkiye. In this study, the wind energy costs are researched to understand the dynamics of wind energy investment. The cost parameters of the wind energy can be classified as the investment costs, capacity factor, operational and maintenance costs, the turbine life span, and the credit payments etc. The economic potential of wind power is also researched and it is found as 48 000 MW. In this thesis, the interviews with crucial wind power companies are realized to comprehend the factors affecting wind power also some factors affecting economic potential of wind power in Türkiye. Lastly, wind energy companies gave crucial policy recommendations about how to utilize sufficiently wind energy potential in Türkiye.