The Turkish Geothermal Energy Association (Jeotermal Enerji Dernegi / JED), which unites the Turkish geothermal energy sector under one roof, has called for geothermal energy investments to be included within the scope of strategic investment incentives.
Pointing out that Türkiye, one of the leading geothermal countries in the world, utilizes only 11% of its discovered resource potential, JED Chairman Ali Kindap stated that the sector is requesting geothermal energy investments to be classified as strategic investments.
Financial Burden and Risk on Investors in Drilling
Kindap emphasized that the definition of Strategic Investment, introduced in 2012, facilitated the production of products Türkiye needs and heavily imports using domestic resources. He stated:
“We request that geothermal energy investments be included under the definition of ‘strategic investment,’ which has functioned efficiently to bring remarkable projects to our country. Geothermal energy is a fully domestic and national resource that lies beneath us everywhere, does not rely on imports, and serves the common welfare of the Turkish people. There is no other energy source that is as local and independent.”
Highlighting the uninterrupted and reliable nature of geothermal energy compared to other renewable energy sources, Kindap noted that it is a significant advantage for Türkiye to meet these critical energy needs with a clean and abundant domestic resource.
Kindap also stressed that geothermal drilling, technically similar to oil drilling, places the entire financial burden and risk on the investor. He argued that including these investments in the strategic investment category could alleviate the significantly higher investment costs compared to other renewable sources.
Türkiye Could Become an Energy Exporter
Referring to the current installed capacity of geothermal energy-based electricity generation in Türkiye, which stands at 1,700 MW, Kindap stated that this could rise to 5,000 MW in the coming years. He emphasized that these plants operate continuously, generating clean base-load energy 24/7, regardless of seasonal conditions.
Kindap underscored that the 63 geothermal power plants operating in Türkiye utilize internationally recognized, environmentally friendly production technologies and provided the following evaluation:
“Geothermal energy investments are unique localization projects, offering Türkiye’s resources for the prosperity of its people. As the Turkish geothermal energy sector, we bring these projects into operation with astounding speed and success, using our own capital, workforce, and technology. We are working to ensure our country benefits more from this endless resource and creates additional value. Türkiye is an energy-rich nation.
By giving more importance to clean energy resources, supporting and incentivizing them, and bringing them online, our country can easily rise to the level of an ‘energy-exporting nation,’ which may seem like a dream today. By utilizing geothermal energy, an infinite resource, to serve our nation’s common welfare, we can elevate our fourth-place global ranking to a clear leadership position. As the Turkish geothermal sector, we are ready to ignite this grand vision with our investors, engineering expertise, human resources, and financial strength.”
