Energy saving projects to get incentives from Turkish government

ANKARA

A wastewater treatment facility in Denizli that saved 720,000-lira energy in a year is seen. Efficient energy projects will benefit from incentives. AA photo

The government is set to include energy saving investments within the scope of incentives, as it hopes to save around 15 billion lira-worth of energy per year, Energy Minister Taner Yıldız has announced.

Speaking at a meeting on the issue, Yıldız said increasing energy efficiency across the whole sector would earn the Turkish economy around 65 billion liras by 2023.

“With this aim in mind, it has been decided to provide incentives for some energy investments with a Cabinet decision taken on May 9,” he added.

The decision will pave the way for several investments that introduce efficient energy use in industrial facilities, in order to benefit from the government’s most privileged “fifth incentive region.”

Areas marked as part of the “fifth incentive regions” are considered underdeveloped and mostly cover the eastern and southeastern provinces, the country’s poorest regions where Kurdish militant movements have been active for decades.

The investments that qualify for incentives will be those that bring 20 percent energy saving per unit for at least five years in manufacturing facilities consuming at least 500 tons of oil equivalent (toe) energy, investments that save power through waste heat and liquidified natural gas (LNG), and underground gas storage investments worth at least 50 million liras.