Turkey plans to spend $50bn to boost power generation by 2018

4 February 2015 (Last Updated February 4th, 2015 18:30)

Turkey plans to invest $50bn in power generation projects in the country between 2015 and 2018.

Turkey plans to invest $50bn in power generation projects in the country between 2015 and 2018.

The investment proposals are part of the country’s 10th Development Plan, according to the energy commission.

While $16bn investment will be made for increasing hydropower generation in the country, another $11bn will be aimed at boosting its nuclear power capacity.

"Turkey intends to spend nearly $10bn for developing national coal plants."

Anadolu Agency cited the energy commission as saying that the major guidelines of the investment plan include energy sources diversification.

Turkey also intends to spend nearly $10bn for developing national coal plants, which is expected to raise the share of coal reserves in the country’s economy.

In addition, the Development Plan has allowed another $5bn for setting up natural gas plants.

Hydropower presently accounts for up to 25% of the energy requirements in Turkey.

The country’s planned investments for nuclear power developments are intended to cut down its dependency on hydrocarbons for the next few years, reports Anadolu Agency.

Turkey plans to start construction of the Akkuyu nuclear plant, which is equipped with four reactors. Situated in the Mersin province on the Mediterranean coast, the plant is likely to replace 10% of Turkey’s hydrocarbon-generated energy, once operational.