ISTANBUL, Turkey, April 28 (UPI) -- Istanbul Chamber of Commerce head Murat Yalcintas says that Turkey should enter the renewable energy equipment manufacturing sector.
Hurriyet reported Wednesday that Yalcintas, addressing a panel organized by Istanbul Kultur University, said that manufacturing renewable energy equipment would allow Turkey to obtain a share in a growing global marketplace that would expand significantly in the near future.
Yalcintas told his audience, "The expected investment for wind energy in Turkey is $30 billion, whereas this number is $60 billion for solar energy," with most of the investment based on equipment costs.
"If we can start from now on focusing on the production of equipment, then Turkey can be a worldwide player," he said.
Turning to the country's larger energy needs Yalcintas added that if Turkey can maintain a yearly growth rate of 6 percent, the country would need to invest $120 billion in the energy sector by 2020, an amount far beyond state resources.