The geothermal exploration licenses are located at throughout Manisa's Gediz Graben system, which is one of the top geothermal regions in Türkiye hosting almost three hundred megawatts of installed geothermal projects.
Transmark Renewables considers Türkiye a key market due to the following characteristics:
Strong geological potential
- Estimated geothermal resource potential over 4,500 MW
- With an installed capacity 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%, Türkiye 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 Türkiye. Encouraging policies backed by favourable feed-in tariffs are expected to increase their shares in the national grid in the coming years.