Turkey, Germany to develop energy projects

Dunya Executive - - COMMENTARY -

The Turkish and German energy ministers signed a letter of intent to develop energy projects at the Turkish-German Energy Forum held in the Turkish capital on October 26. Speaking at the signing ceremony, Turkey’s Energy and Natural Resources Minis- ter Fatih Donmez said that over the last 15 years, German companies had invested approximately 25 billion euros in the Turkish energy sector and created over 15,000 jobs. “The high investment amount demonstrates the confidence of German companies and investors in both the sector and the Turkish economy writ large,” he said, adding German businesses had made significant contributions especially in the renewables sector.

Also addressing the forum, German Economy and Energy Minister Peter Altmaier said Turkish firmsin turn want to be a part of the energy transformation process in Germany. “We also cooperate in the area of industrial production. If we join forces, we can achieve many things. Turkey and Germany could cooperate in the field of energy efficiency and storage since Turkey would be a crossroads for gas,” he said.

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