Turkey Renewables Q1 2019
We maintain our upbeat long-term outlook for the Turkish renewables sector, despite our decision to revise down ourwind and solar capacity growth forecast for 2019/20 due financing access becoming challenging by lira depreciation, rising interestrates and rising inflation. This is due to our expectation that the government will remain firmly behind the sector as it seeks to lowerits reliance on imported gas and coal, a dynamic accentuated by the weak lira. We also believe the country's transition from feed-in-tariffs to competitive auctions and the provision of USD-denominated power purchase agreements will further support long-terminvestor interest in the market, supporting our upbeat forecast.
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