Turkey's geothermal energy sector aims to more than double investments to $7 billion by 2020 from the current level of $3.2 billion, Ufuk Senturk, the president of Turkey's Geothermal Electricity Power Plant Investors Association (JESDER) told Anadolu Agency (AA) on Wednesday.
Senturk said that the electricity generation from geothermal in Turkey has experienced a massive rise in recent years and continues to grow year by year.
Turkey's geothermal sector has seen growth in power generation capacity from 30 MW in 2008 to the current 870 MW – equivalent to 19 percent of the country's potential for geothermal power production, currently estimated at 4.5 gigawatts.
"Turkey, the seventh country in the world with its 870 MW of installed capacity in geothermal, increased this capacity every year by 50 percent in the last five years," he explained.
He concluded that the purchase guarantee scheme for geothermal energy, currently set at $0.105 cents per kilowatt-hour, should continue for another five years after 2020 for the future of this energy source.
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