Turkey to invest $5bn on smart grid; boost ties with US
Turkey plans to invest $5bn on smart power grids by 2015 to enhance network efficiency, allowing North American firms to expand.
America sees « substantial opportunities for closer cooperation between the Turkish government and energy companies and U.S. companies that provide smart-grid technologies, » a statement from the US consulate in Istanbul noted.
Turkey, which foresees an annual power-demand growth of 6.3% in the next twenty years, has already attracted investors including General Electric (GE), reports Bloomberg.
Germany-based Siemens, Denmark’s Vestas Wind Systems, and US-based GE are among providers of power-generation equipment in Turkey.
The country seeks to boost efficiency of supply after demand grew 5.1% in 2012, while power generation rose by 4.2%, according to data from Turkish Electricity Transmission.
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