In 2023, the production of renewables and biofuels in Turkey stood at 27.68 million tonnes of oil equivalent (MTOE). From 2024 onwards, the forecasted data shows an upward trend: 29.05 MTOE in 2024, 30.44 MTOE in 2025, 31.81 MTOE in 2026, 33.17 MTOE in 2027, and 34.52 MTOE in 2028.
Year-on-year variations are as follows:
- 2024: +4.94%
- 2025: +4.78%
- 2026: +4.51%
- 2027: +4.28%
- 2028: +4.07%
On average, the compound annual growth rate (CAGR) from 2024 to 2028 is approximately 4.52% per year.
Future trends to watch for include potential government policy changes promoting renewables, technological advancements in biofuel production, and shifts in global energy markets impacting local productions. Additionally, sustainability goals and international agreements may further stimulate growth in this sector.
