Transmark Turkey Manissa operations
The geothermal exploration licenses are located at throughout Manisa's Gediz graben system, which is one of the top geothermal regions in Turkey hosting over two-hundred megawatts of installed 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
Feed-in tariff
- 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.
