Transmark Turkey Manissa operations
The geothermal exploration licenses near Manisa city are located at the western margin of the Gediz graben system, which is one of the top geothermal regions in Turkey hosting several geothermal projects.
Transmark Renewables considers Turkey a key market due to the following characteristics:
Strong geological potential
- Turkey has an estimated geothermal resource potential over 4,500 MW
- With an installed capacity in Turkey of just 30 MW in 2008, the country achieved a fenomenal growth of installed capacity to approximately 1500 MW in 2020 with governmental targets set at 3000 MW the following years.
Attractive market fundamentals
- With a population of approximately 80 million people and a GDP growth of 6.5%, Turkey is a large and growing economy depending largely on imported fossil energy
- Due to these developments and the Paris agreements, the electricity market requires a strong increase of renewable energy capacity
- Renewable electricity production is mainly promoted through a guaranteed feed-in tariff. Opportunities for domestic and sustainable forms of energy production – hydro, wind, solar, geothermal and others – are abundant in Turkey. Encouraging policies backed by favourable feed-in tariffs are expected to increase their shares in the national grid in the coming years.