Abstract
With a young and growing population, low per capita electricity consumption, rapid urbanization and strong economic growth, for nearly two decades, Turkey has been one of the fastest growing power markets in the world. Projections by Turkey's Electricity Generating and Transmission Corporation (TEAŞ), a public company which owns and operates 15 thermal and 30 hydroelectric plants generating 91% of Turkey's electricity, indicate that rapid (as high as 10% annual) growth in electricity consumption will continue over the next 15 years. Turkey's electric production was 160 billion kilowatt-hours [kWh] in year 2002. Turkey may need to triple its total electric power generating capacity to around 64 gigawatts (GW) by 2010. According to the Ministry of Energy and Natural Resources (MENR), this would also require investments of $4–$4.5 billion per year.
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