Türkiye’s 1st offshore wind project could create $3B in investment

Türkiye’s planned first 1 gigawatt (GW) offshore wind project is expected to create an investment environment of some $3 billion, according to the head of the Turkish Wind Energy Association (TÜREB).

Speaking to Anadolu Agency (AA) on the sidelines of WindEnergy Hamburg, TÜREB President Ibrahim Erden said around half of the $3 billion investment will be allocated to offshore wind turbines, while the remainder will cover costs such as electricity infrastructure, construction and logistics.

Türkiye’s first offshore wind tender, scheduled for the first quarter of 2027, has drawn interest from international developers, investors and manufacturers as the country prepares to open a new segment of its renewable energy market, Deputy Energy and Natural Resources Minister Zafer Demircan separately told AA.

The tender is expected to be announced by the end of this year, with the auction planned for the first quarter of 2027, Demircan said.

While offshore wind projects are costlier than onshore alternatives, Erden emphasized that they offer significantly higher efficiency.

“While the capacity factor for onshore wind is around 35%, it is between 45% and 50% for offshore wind. Despite the higher costs, more revenue can be generated,” he noted, adding that initial high costs and technological requirements will naturally decline as the technology becomes more widespread.

Beyond energy generation, Erden stated that the offshore wind ecosystem would become a driving force for several other sectors once it becomes economically viable.

“Once the offshore wind ecosystem becomes economically viable, it will have a positive impact on other economies and sectors and serve as a catalyst,” he stated.

In addition to wind energy, they will drive sectors including construction and electricity, as well as maritime transport, shipping, shipbuilding and the production of specialized equipment for offshore projects, he said.

He highlighted that Türkiye already possesses a well-established, trusted engineering capability, alongside years of successful construction and manufacturing experience in the onshore wind sector.

Growing interest

He said the offshore wind project has attracted interest from both domestic and international technology providers and investors.

“Among the countries showing interest are Germany and Denmark, which have been working on offshore wind in Europe, as well as China. Among potential financial investors, we can cite the United Arab Emirates, Saudi Arabia and Qatar in the Middle East,” Erden said.

Demircan also said that Türkiye has consulted countries including the U.K., Denmark and Germany, as well as private- and public-sector companies with experience in offshore wind projects.

Meanwhile, the Ministry of Energy and Natural Resources considers offshore wind one of the most strategic areas of Türkiye’s new energy era.

Studies have shown that Türkiye has significant potential in offshore wind, and four separate areas have been identified in the Gulf of Saros, off Gökçeada, Bozcaada and Edremit.

The tender will mark a first for Türkiye’s energy sector. The country has set a target of reaching 5 GW of offshore wind capacity by 2035.

DAILYSABAH