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May 19, 2020

GE Renewable Energy secures wind turbine supply contract in Turkey

GE Renewable Energy has secured a wind turbine supply contract from renewable energy company Fina Enerji, which is owned by Fiba Group.

GE Renewable Energy has secured a wind turbine supply contract from renewable energy company Fina Enerji, which is owned by Fiba Group.

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Wind Power Market seeing increased risk and disruption

The wind power market has grown at a CAGR of 14% between 2010 and 2021 to reach 830 GW by end of 2021. This has largely been possible due to favourable government policies that have provided incentives to the sector. This has led to an increase in the share of wind in the capacity mix, going from a miniscule 4% in 2010 to 10% in 2021. This is further set to rise to 15% by 2030. However, the recent commodity price increase has hit the sector hard, increasing risks for wind turbine manufacturers and project developers, and the Russia-Ukraine crisis has caused further price increase and supply chain disruption. In light of this, GlobalData has identified which countries are expected to add the majority of wind power capacity out to 2030. Get ahead and download this whitepaper for more details on the current state of the Wind Power Market.
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As per the terms of the contract, GE Renewable Energy will deliver 52 3MW platform onshore wind turbines.

These turbines will be installed at the Baglama, Tayakadin, Yalova and Pazarkoy windfarms, all located in Turkey.

Fiba Group Board chairman Murat Özyeğin said: “We are excited for our new windfarm projects that will increase our installed capacity from 350MW to 543MW.

“Baglama Project will be the easternmost windfarm investment in Turkey and we are particularly proud to contribute to the economic development in this region. We are pleased to sustain our partnership with GE and to contribute to our country’s renewable energy targets.”

The four windfarms have a total combined capacity of 193MW. The clean energy generated will be sufficient to power 195,000 homes in the region.

It will also offset nearly 650,000 tonnes of carbon emissions into the atmosphere.

Once completed, the wind power facilities are expected to support Turkey’s renewable energy target.

Additionally, GE Renewable Energy will service the wind turbine for a period of ten-years.

GE Renewable energy onshore Wind, Middle East, North Africa and Turkey president and CEO Manar Al-Moneef said: “GE has been one of the early investors in Turkey and continues the commitment to create jobs and contribute to the development of high technology in the energy industry.

“We are delighted to be partnering with Fina Enerji Holding again and working on these exciting projects featuring GE’s high-tech 3MW platform turbines, well suited to Turkey’s wind speeds and landscape.”

The company further added that it will manufacture wind turbine blades at its LM Wind Power’s Bergama site, Izmir, Turkey. The towers will also be produced in the country.

In March this year, GE Renewable Energy was awarded a wind turbine supply contract by utility company Sanko Enerji for a wind farm in Turkey.

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Free Report
img

Wind Power Market seeing increased risk and disruption

The wind power market has grown at a CAGR of 14% between 2010 and 2021 to reach 830 GW by end of 2021. This has largely been possible due to favourable government policies that have provided incentives to the sector. This has led to an increase in the share of wind in the capacity mix, going from a miniscule 4% in 2010 to 10% in 2021. This is further set to rise to 15% by 2030. However, the recent commodity price increase has hit the sector hard, increasing risks for wind turbine manufacturers and project developers, and the Russia-Ukraine crisis has caused further price increase and supply chain disruption. In light of this, GlobalData has identified which countries are expected to add the majority of wind power capacity out to 2030. Get ahead and download this whitepaper for more details on the current state of the Wind Power Market.
by GlobalData
Enter your details here to receive your free Report.

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