Wind, solar energy saves Turkey $7 bln in imports

Politics News 26 May 2022 10:29
TurkicWorld Daspina Hasanova
Wind, solar energy saves Turkey $7 bln in imports

Baku. TurkicWorld:

Wind and solar power generation has lowered Turkey’s import bills by preventing $7 billion of fossil fuel imports in the last 12 months, London-based Ember said in a report, TurkicWorld reports citing Hurriyet Daily News.

In the following months, approximately $700 million in savings is expected each month if the gas price remains the same, the think-tank predicted.

“Like many countries, Turkey has recently suffered from soaring electricity prices. The monthly wholesale power price has risen by almost sixfold in a year, with fossil fuel prices playing a significant role,” it said.

Wind and solar power plants generated 46.3 terawatt-hours (TWh) of electricity between May 2021 and April 2022, according to the report.

“Without these power plants, underutilized gas-fired plants or coal power plants relying on imports would have had to run in order to compensate for them. Assuming that all 46.3 TWh power was generated by gas-fired plants, this would mean wind and solar power replaced $7 billion extra gas imports during that 12 month period.”

Wind power plants, with their 32.2 TWh generation between May 2021 and April 2022, own the lion’s share in the import savings with $5 billion while solar power plants account for $ 2 billion import savings, with 86 percent of that from unlicensed solar power plants, the report added.