Skip to content Skip to Search
Skip navigation

Germany’s Nordex to invest $1bn in Turkey’s wind energy sector

Machine, Motor, Engine Unsplash/Omer Haktan
Wind turbines in Turkey. Nordex plans to invest $1.1bn in the country

German wind turbine maker Nordex plans to invest €1 billion ($1.1 billion) as part of its expansion strategy in Turkey.

The company aims to increase its wind energy capacity by 1 gigawatt (GW) next year from the existing 3.5 GW, state-owned Anadolu Agency reported, quoting CEO Jose Luis Blanco.

He said that Ankara will be able to provide an alternative to Asia, given the growth in capacity for supply chains and equipment production.



In addition, the country plays a major role in the wind energy sector, thanks to its large surface area and massive onshore investment opportunities.

Turkey manufactured wind energy equipment valued at €700 million last year, with the majority being exported to Europe, the report said.

Last November the energy and natural resources ministry said that half of Turkey’s proposed new installed electricity capacity will come from renewables. The country’s capacity is planned to rise 27 percent to 136 GW by 2028.

In December 2023, Turkey announced the setting up of its first green venture capital fund to support its target of net zero by 2053.

Latest articles

EGSH

Dubai launches one-stop hub to streamline government services

People in Dubai can now obtain an Emirates ID, register a company, open a bank account and more under one roof following the opening of the Emirates Government Services Hub (EGSH). Owned by Sheikh Mohammed Bin Maktoum Bin Juma Al Maktoum, a member of the Dubai Royal family, EGSH allows clients to access all essential […]

In association with
Thailand's consul general Kitinai Nutakul visits the Saudi Ministry of Foreign Affairs in Jeddah

Thailand opens investment office in Saudi Arabia

Thailand’s Board of Investment (BOI) is opening its first Middle East office in Saudi Arabia, signaling a deepening of economic ties between the nations after a longstanding diplomatic spat. The office will focus on attracting Saudi investment into Thailand’s targeted industries and supporting Thai entrepreneurs looking to invest in the region, the BOI said in […]

hajj saudi arabia

Saudia reports big rise in international passengers

Saudi Arabia’s national carrier Saudia reported a 24 percent increase in international passengers to 9.1 million in the first half of 2024. There was also a 13 percent rise in the number of flights. The Hajj pilgrimage in June played a large part in the growth.  The number of passengers flying on domestic routes rose […]

Abu Dhabi has published its new whistleblowing framework to 'maintain transparency, accountability and market integrity'

ADGM sets deadline for whistleblowing rules

Companies in the Abu Dhabi Global Market (ADGM) have been given a deadline of May 2025 to implement the latest whistleblowing regulations. The financial authority has published its new whistleblowing framework to ‘maintain transparency, accountability and market integrity’. The framework includes regulations on reporting of protected disclosures, allowing reporting of suspected breaches of ADGM legislation […]