Having invested $4.8 bln. between 2017 and 2020, Turkey aims to invest $11 bln. by 2023 in line with energy efficiency plan
Turkey has invested $635 million in energy efficiency last year, helping save 451,000 tons of oil equivalent valued at $158 million, according to Turkey’s Energy and Natural Resources Minister on Wednesday.
Speaking at the Eurasia Cogeneration Conference through video link, Fatih Donmez said that thanks to energy efficiency measures, the industrial sector saved 170,000 tons in final energy demand per year between 2003 and 2018.
“We announced our National Energy Efficiency Action Plan in 2017. With 6 thematic topics and 55 actions, we put a target of a 14% reduction in our primary energy consumption and 66.6 million tons of carbon dioxide equivalent emissions reduction by 2023. We made a total of $4.8 billion in investments for energy efficiency between 2017 and 2020. In return, we made savings of 3.19 million tons of oil equivalent and $1.2 billion cumulatively,” he explained.
As part of Turkey’s aim to promote energy efficiency in the industrial sector since 2009, Donmez said that through Efficiency Enhancing Projects, known as VAP, 434 projects valued at 307 million Turkish liras have been launched, some completed and others ongoing with the support of 83 million liras to date. This, in turn, allowed for savings of 90,000 tons of oil equivalent worth 173 million liras.
“We are broadening the scope of VAP to commercial buildings, energy, services and agriculture sector facilities. With the presidential decision in August 2019, a 15% energy efficiency target was set for public institutions up to the end of 2023. Savings have already reached considerable levels,” he said.
National Energy Efficiency Action Plan
Turkey plans to invest around $11 billion for energy efficiency in all related sectors by 2023 in line with the National Energy Efficiency Action Plan.
The country foresees savings of $30 billion by 2033 thanks to these investments and by invoking the 55 action points to develop energy efficiency measures throughout various sectors, including industry, transport, construction, agriculture, and energy generation and transformation.