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

Unsplash/Omer Haktan

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.

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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.

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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.