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Turkey Offshore Wind Energy Market

The Turkey offshore wind energy market, valued at USD 1.2 billion, is growing due to energy transition goals, with plans for 5 GW installed capacity by 2035.

Region:Europe

Author(s):Geetanshi

Product Code:KRAA3659

Pages:89

Published On:September 2025

About the Report

Base Year 2024

Turkey Offshore Wind Energy Market Overview

  • The Turkey Offshore Wind Energy Market is valued at USD 1.2 billion, based on a five-year historical analysis. This growth is primarily driven by the increasing demand for renewable energy sources, government incentives, and advancements in wind turbine technology. The market has seen significant investments aimed at expanding offshore wind capacity, contributing to Turkey's energy transition goals and sustainability commitments. The country has set ambitious targets, including plans for 5 gigawatts of installed offshore capacity by 2035 and a total renewables investment pipeline of USD 80 billion, reflecting a strong policy push for energy diversification and decarbonization.
  • Key players in this market include Istanbul, Izmir, and Bursa, which are recognized for their strategic coastal locations and favorable wind conditions, particularly in the Aegean and Mediterranean seas. These regions are pivotal in hosting offshore wind projects, supported by local government initiatives and investments that enhance infrastructure and facilitate project development. The first offshore projects are underway in the Sea of Marmara, with additional sites expected to begin development in the near term.
  • In 2023, the Turkish government implemented the Environmental Impact Assessment Regulation, issued by the Ministry of Environment, Urbanization and Climate Change, which mandates comprehensive environmental impact assessments for all offshore wind projects. This regulation requires project developers to submit detailed environmental reports, obtain necessary permits, and comply with strict ecological protection standards before commencing construction, ensuring sustainable development practices and minimizing ecological disruption in the offshore wind sector.
Turkey Offshore Wind Energy Market Size

Turkey Offshore Wind Energy Market Segmentation

By Turbine Foundation Type:The market is segmented into Fixed Bottom Turbines and Floating Turbines. Fixed Bottom Turbines are primarily used in shallower waters and are currently the dominant technology due to their established design, lower installation costs, and technological maturity. Floating Turbines, while gaining traction globally, are still in the early stages of adoption in Turkey, primarily due to their higher costs and the technical challenges associated with deeper water installations. However, advancements in floating turbine technology and the need to access deeper, higher-wind sites are expected to drive gradual uptake in the coming years.

Turkey Offshore Wind Energy Market segmentation by Turbine Foundation Type.

By Water Depth:The segmentation includes Shallow Water (0-30m), Transitional Water (30-60m), and Deep Water (>60m). Shallow Water installations dominate the market due to their cost-effectiveness and the maturity of fixed-bottom technology. Transitional and Deep Water segments are gradually developing, driven by the need for larger capacity installations and advancements in floating turbine technology, which enable projects in deeper, more exposed maritime zones with higher wind potential.

Turkey Offshore Wind Energy Market segmentation by Water Depth.

Turkey Offshore Wind Energy Market Competitive Landscape

The Turkey Offshore Wind Energy Market is characterized by a dynamic mix of regional and international players. Leading participants such as Siemens Gamesa Renewable Energy, Vestas Wind Systems A/S, GE Renewable Energy, Ørsted A/S, RWE Renewables, Enel Green Power, Iberdrola, EDP Renewables, Akfen Renewable Energy, Polat Energy, Borusan EnBW Enerji, Enerjisa Üretim, Kalyon Enerji, Zorlu Enerji, EÜA? (Elektrik Üretim A.?.) contribute to innovation, geographic expansion, and service delivery in this space. Partnerships between international technology providers and local firms are increasingly common, leveraging global expertise with domestic market knowledge to accelerate project development and technology transfer.

Siemens Gamesa Renewable Energy

2017

Zamudio, Spain

Vestas Wind Systems A/S

1945

Aarhus, Denmark

GE Renewable Energy

2002

Paris, France

Ørsted A/S

2006

Fredericia, Denmark

RWE Renewables

2000

Essen, Germany

Company

Establishment Year

Headquarters

Installed Offshore Wind Capacity (MW)

Project Pipeline Value (USD Million)

Number of Active Projects

Average Project Development Timeline (Months)

Capacity Factor Performance (%)

Levelized Cost of Energy (LCOE) (USD/MWh)

Turkey Offshore Wind Energy Market Industry Analysis

Growth Drivers

  • Increasing Energy Demand:Turkey's energy consumption is projected to reach 400 terawatt-hours (TWh) in future, driven by industrial growth and urbanization. The country's population is expected to exceed 90 million, further escalating energy needs. This rising demand necessitates a shift towards renewable sources, particularly offshore wind, which can contribute significantly to the energy mix. The Turkish government aims for renewables to account for 30% of total energy consumption by 2030, enhancing the offshore wind sector's importance.
  • Government Support and Incentives:The Turkish government has implemented various incentives to promote renewable energy, including offshore wind. In future, the government allocated approximately $1.5 billion for renewable energy projects, with a significant portion directed towards offshore wind initiatives. Additionally, the Renewable Energy Law provides a feed-in tariff of 0.13 USD per kWh for offshore wind energy, encouraging investments and facilitating project financing, thus bolstering market growth.
  • Technological Advancements:The offshore wind sector in Turkey is benefiting from rapid technological advancements, particularly in turbine efficiency and energy generation. In future, the average capacity of offshore wind turbines is expected to reach 10 megawatts (MW), significantly enhancing energy output. Innovations in floating wind technology are also being explored, which could unlock deeper waters for wind farm development. These advancements are crucial for reducing costs and increasing the viability of offshore projects in Turkey.

Market Challenges

  • High Initial Investment Costs:The initial capital required for offshore wind projects in Turkey is substantial, with estimates ranging from $3 million to $6 million per MW. This high upfront cost poses a significant barrier to entry for many investors. Additionally, the financial viability of projects is often challenged by long payback periods, which can deter potential stakeholders from committing to offshore wind investments, thereby slowing market growth.
  • Regulatory Uncertainties:The regulatory landscape for offshore wind energy in Turkey remains complex and often unpredictable. In future, ongoing changes in environmental regulations and permitting processes can lead to project delays and increased costs. Investors face challenges in navigating these regulations, which can vary significantly across regions. This uncertainty can hinder investment confidence and slow the development of offshore wind projects in the country.

Turkey Offshore Wind Energy Market Future Outlook

The future of Turkey's offshore wind energy market appears promising, driven by increasing energy demands and supportive government policies. In future, the market is expected to see significant advancements in technology, enhancing efficiency and reducing costs. Furthermore, the expansion of offshore wind farms is anticipated, with a focus on sustainable energy solutions. As public awareness of environmental issues grows, the sector is likely to attract more investments, fostering a robust renewable energy landscape in Turkey.

Market Opportunities

  • Expansion of Offshore Wind Farms:The Turkish government plans to increase offshore wind capacity to 10,000 MW by 2030. This ambitious target presents substantial opportunities for developers and investors. The expansion will not only meet rising energy demands but also create jobs and stimulate local economies, making it a vital area for investment and growth in the renewable sector.
  • International Collaborations:Turkey's offshore wind market can benefit from international partnerships, particularly with countries leading in wind technology. Collaborations can facilitate knowledge transfer and access to advanced technologies, enhancing project efficiency. In future, potential partnerships with European firms could lead to joint ventures, boosting investment and accelerating the development of offshore wind projects in Turkey.

Scope of the Report

SegmentSub-Segments
By Turbine Foundation Type

Fixed Bottom Turbines

Floating Turbines

By Water Depth

Shallow Water (0-30m)

Transitional Water (30-60m)

Deep Water (>60m)

By Geographic Location

Aegean Sea

Mediterranean Sea

Sea of Marmara

Black Sea

By Turbine Capacity

Less than 3 MW

6 MW

10 MW

Above 10 MW

By Project Development Stage

Planning and Permitting

Under Construction

Operational

By Investment Source

Domestic Investments

Foreign Direct Investments (FDI)

Public-Private Partnerships (PPP)

By End-User

Utilities

Industrial Consumers

Commercial Consumers

Key Target Audience

Investors and Venture Capitalist Firms

Government and Regulatory Bodies (e.g., Ministry of Energy and Natural Resources, Energy Market Regulatory Authority)

Manufacturers and Producers of Wind Turbines

Offshore Wind Farm Developers

Energy Utility Companies

Environmental NGOs and Advocacy Groups

Financial Institutions and Banks

Energy Policy Think Tanks

Players Mentioned in the Report:

Siemens Gamesa Renewable Energy

Vestas Wind Systems A/S

GE Renewable Energy

rsted A/S

RWE Renewables

Enel Green Power

Iberdrola

EDP Renewables

Akfen Renewable Energy

Polat Energy

Borusan EnBW Enerji

Enerjisa Uretim

Kalyon Enerji

Zorlu Enerji

EUAS (Elektrik Uretim A.S.)

Table of Contents

Market Assessment Phase

1. Executive Summary and Approach


2. Turkey Offshore Wind Energy Market Overview

2.1 Key Insights and Strategic Recommendations

2.2 Turkey Offshore Wind Energy Market Overview

2.3 Definition and Scope

2.4 Evolution of Market Ecosystem

2.5 Timeline of Key Regulatory Milestones

2.6 Value Chain & Stakeholder Mapping

2.7 Business Cycle Analysis

2.8 Policy & Incentive Landscape


3. Turkey Offshore Wind Energy Market Analysis

3.1 Growth Drivers

3.1.1 Increasing Energy Demand
3.1.2 Government Support and Incentives
3.1.3 Technological Advancements
3.1.4 Environmental Sustainability Initiatives

3.2 Market Challenges

3.2.1 High Initial Investment Costs
3.2.2 Regulatory Uncertainties
3.2.3 Infrastructure Limitations
3.2.4 Competition from Other Renewable Sources

3.3 Market Opportunities

3.3.1 Expansion of Offshore Wind Farms
3.3.2 International Collaborations
3.3.3 Technological Innovations
3.3.4 Increased Public Awareness

3.4 Market Trends

3.4.1 Shift Towards Sustainable Energy
3.4.2 Growth in Hybrid Energy Systems
3.4.3 Investment in Energy Storage Solutions
3.4.4 Rise of Local Manufacturing

3.5 Government Regulation

3.5.1 Renewable Energy Law
3.5.2 Feed-in Tariff Policies
3.5.3 Environmental Impact Assessments
3.5.4 Grid Connection Regulations

4. SWOT Analysis


5. Stakeholder Analysis


6. Porter's Five Forces Analysis


7. Turkey Offshore Wind Energy Market Market Size, 2019-2024

7.1 By Value

7.2 By Volume

7.3 By Average Selling Price


8. Turkey Offshore Wind Energy Market Segmentation

8.1 By Turbine Foundation Type

8.1.1 Fixed Bottom Turbines
8.1.2 Floating Turbines

8.2 By Water Depth

8.2.1 Shallow Water (0-30m)
8.2.2 Transitional Water (30-60m)
8.2.3 Deep Water (>60m)

8.3 By Geographic Location

8.3.1 Aegean Sea
8.3.2 Mediterranean Sea
8.3.3 Sea of Marmara
8.3.4 Black Sea

8.4 By Turbine Capacity

8.4.1 Less than 3 MW
8.4.2 3-6 MW
8.4.3 6-10 MW
8.4.4 Above 10 MW

8.5 By Project Development Stage

8.5.1 Planning and Permitting
8.5.2 Under Construction
8.5.3 Operational

8.6 By Investment Source

8.6.1 Domestic Investments
8.6.2 Foreign Direct Investments (FDI)
8.6.3 Public-Private Partnerships (PPP)

8.7 By End-User

8.7.1 Utilities
8.7.2 Industrial Consumers
8.7.3 Commercial Consumers

9. Turkey Offshore Wind Energy Market Competitive Analysis

9.1 Market Share of Key Players

9.2 Cross Comparison of Key Players

9.2.1 Installed Offshore Wind Capacity (MW)
9.2.2 Project Pipeline Value (USD Million)
9.2.3 Number of Active Projects
9.2.4 Average Project Development Timeline (Months)
9.2.5 Capacity Factor Performance (%)
9.2.6 Levelized Cost of Energy (LCOE) (USD/MWh)
9.2.7 Local Content Percentage (%)
9.2.8 Technology Innovation Score
9.2.9 Environmental Compliance Rating
9.2.10 Financial Stability Rating

9.3 SWOT Analysis of Top Players

9.4 Pricing Analysis

9.5 Detailed Profile of Major Companies

9.5.1 Siemens Gamesa Renewable Energy
9.5.2 Vestas Wind Systems A/S
9.5.3 GE Renewable Energy
9.5.4 Ørsted A/S
9.5.5 RWE Renewables
9.5.6 Enel Green Power
9.5.7 Iberdrola
9.5.8 EDP Renewables
9.5.9 Akfen Renewable Energy
9.5.10 Polat Energy
9.5.11 Borusan EnBW Enerji
9.5.12 Enerjisa Üretim
9.5.13 Kalyon Enerji
9.5.14 Zorlu Enerji
9.5.15 EÜA? (Elektrik Üretim A.?.)

10. Turkey Offshore Wind Energy Market End-User Analysis

10.1 Procurement Behavior of Key Ministries

10.1.1 Ministry of Energy and Natural Resources
10.1.2 Ministry of Environment and Urbanization
10.1.3 Ministry of Industry and Technology

10.2 Corporate Spend on Infrastructure & Energy

10.2.1 Investment Trends in Renewable Energy
10.2.2 Budget Allocations for Offshore Projects
10.2.3 Partnerships with Private Sector

10.3 Pain Point Analysis by End-User Category

10.3.1 Cost of Energy
10.3.2 Reliability of Supply
10.3.3 Regulatory Compliance

10.4 User Readiness for Adoption

10.4.1 Awareness of Offshore Wind Benefits
10.4.2 Financial Incentives
10.4.3 Training and Support Needs

10.5 Post-Deployment ROI and Use Case Expansion

10.5.1 Performance Metrics
10.5.2 Long-term Sustainability
10.5.3 Expansion Opportunities

11. Turkey Offshore Wind Energy Market Future Size, 2025-2030

11.1 By Value

11.2 By Volume

11.3 By Average Selling Price


Go-To-Market Strategy Phase

1. Whitespace Analysis + Business Model Canvas

1.1 Market Gaps Identification

1.2 Business Model Framework


2. Marketing and Positioning Recommendations

2.1 Branding Strategies

2.2 Product USPs


3. Distribution Plan

3.1 Urban Retail Strategies

3.2 Rural NGO Tie-ups


4. Channel & Pricing Gaps

4.1 Underserved Routes

4.2 Pricing Bands


5. Unmet Demand & Latent Needs

5.1 Category Gaps

5.2 Consumer Segments


6. Customer Relationship

6.1 Loyalty Programs

6.2 After-sales Service


7. Value Proposition

7.1 Sustainability Initiatives

7.2 Integrated Supply Chains


8. Key Activities

8.1 Regulatory Compliance

8.2 Branding Efforts

8.3 Distribution Setup


9. Entry Strategy Evaluation

9.1 Domestic Market Entry Strategy

9.1.1 Product Mix
9.1.2 Pricing Band
9.1.3 Packaging

9.2 Export Entry Strategy

9.2.1 Target Countries
9.2.2 Compliance Roadmap

10. Entry Mode Assessment

10.1 Joint Ventures

10.2 Greenfield Investments

10.3 Mergers & Acquisitions

10.4 Distributor Model


11. Capital and Timeline Estimation

11.1 Capital Requirements

11.2 Timelines


12. Control vs Risk Trade-Off

12.1 Ownership vs Partnerships


13. Profitability Outlook

13.1 Breakeven Analysis

13.2 Long-term Sustainability


14. Potential Partner List

14.1 Distributors

14.2 Joint Ventures

14.3 Acquisition Targets


15. Execution Roadmap

15.1 Phased Plan for Market Entry

15.1.1 Market Setup
15.1.2 Market Entry
15.1.3 Growth Acceleration
15.1.4 Scale & Stabilize

15.2 Key Activities and Milestones

15.2.1 Milestone Planning
15.2.2 Activity Tracking

Research Methodology

ApproachModellingSample

Phase 1: Approach1

Desk Research

  • Analysis of government reports and publications on renewable energy policies in Turkey
  • Review of industry reports from organizations such as the Turkish Wind Energy Association
  • Examination of academic journals and white papers focusing on offshore wind energy technologies and market trends

Primary Research

  • Interviews with key stakeholders including project developers and energy consultants in the offshore wind sector
  • Surveys targeting regulatory bodies and energy policy makers to understand the regulatory landscape
  • Field interviews with engineers and technical experts involved in offshore wind project implementation

Validation & Triangulation

  • Cross-validation of data through multiple sources including market reports and expert opinions
  • Triangulation of findings from desk research and primary interviews to ensure consistency
  • Sanity checks conducted through expert panel reviews to validate assumptions and projections

Phase 2: Market Size Estimation1

Top-down Assessment

  • Estimation of total offshore wind capacity based on national energy targets and installed capacity
  • Segmentation of the market by technology type, project size, and geographical distribution
  • Incorporation of government incentives and subsidies impacting market growth

Bottom-up Modeling

  • Collection of data on project costs and financing from leading offshore wind projects in Turkey
  • Estimation of operational and maintenance costs based on industry benchmarks
  • Volume and cost analysis of energy production to derive revenue potential for offshore wind farms

Forecasting & Scenario Analysis

  • Multi-factor regression analysis incorporating variables such as energy demand growth and technological advancements
  • Scenario modeling based on different regulatory frameworks and market conditions
  • Development of baseline, optimistic, and pessimistic forecasts through 2030

Phase 3: CATI Sample Composition1

Scope Item/SegmentSample SizeTarget Respondent Profiles
Offshore Wind Project Developers50Project Managers, Business Development Executives
Energy Policy Makers40Government Officials, Regulatory Analysts
Technical Experts in Wind Energy40Engineers, Technical Directors
Investors in Renewable Energy40Investment Analysts, Fund Managers
Environmental Consultants40Sustainability Experts, Environmental Analysts

Frequently Asked Questions

What is the current value of the Turkey Offshore Wind Energy Market?

The Turkey Offshore Wind Energy Market is valued at approximately USD 1.2 billion, reflecting significant growth driven by increasing demand for renewable energy, government incentives, and advancements in wind turbine technology.

What are Turkey's offshore wind energy capacity targets for 2035?

Which regions in Turkey are key for offshore wind energy projects?

What regulations govern offshore wind energy projects in Turkey?

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