Turkey has been in the news for all the wrong reasons in the last week with social unrest and political uncertainty. It certainly won’t be helping the country’s efforts to become an EU Member State, and it will be having a disastrous short-term impact on the tourism sector and general investor confidence.
But we remain confident that the country is likely to be one of Europe’s best markets for mini gas engine sales out to 2020. A week before the unrest started, we concluded Phase 1 of our Multi-client Study on the European market for gas engine sales in the 10 – 400 kWe range to 2020. The main output of this part of the research is to identify Europe’s top 5 country prospects for this size range and which will form the basis of our current deep research in Phase 2. Turkey is one of those 5 and even with the events of the past week, we think the fundamentals justify this:
- Legislation supporting CHP installations under 50 kWe and favourable licensing terms for high-efficiency, on-site CHP plants
- Considerable untapped biogas potential and a Renewable Energy Law which guarantees a feed-in tariff for biogas plants for 10 years
- A modestly growing economy compared to most EU27 countries
And to finish, a quiz. What do you think the other 4 countries were in our ‘Top 5’, and their respective rankings*? If you guess correctly, and get the sequence of market attractiveness right (measured by the projected annual installed capacity of mini gas engines in 2020), we’ll send you some interesting facts on the European gas engine market which we uncovered during our research. Comment below with your answer.
(*We considered: Austria, Belgium, Czech Republic, Denmark, France, Germany, Hungary, Italy, Netherlands, Poland, Romania, Spain, Switzerland, Turkey and the UK.)