In 2023, Turkey's renewables and biofuels production stood at approximately 27.75 Million Tonnes of Oil Equivalent (MTOE). Based on forecasted data, the production is expected to increase to 29.05 MTOE in 2024 and continue to rise, reaching 34.52 MTOE by 2028.
Year-on-year variations are as follows:
- 2024 to 2025: +4.77%
- 2025 to 2026: +4.51%
- 2026 to 2027: +4.25%
- 2027 to 2028: +4.07%
The Compound Annual Growth Rate (CAGR) from 2024 to 2028 is approximately 4.4%.
Future trends to watch for include advancements in renewable technologies, supportive government policies, and investment in infrastructure. Additionally, shifts in global energy markets and potential challenges in supply chains may impact future production capacities. Turkey's commitment to international climate goals will also play a significant role in shaping the outlook for renewables and biofuels production.
