Energy Ministry

The intention of Public Power Corporation to withdraw a total of 41 power generation units from Crete, the Cyclades and the non-interconnected islands from end-2023 up until 2028 sounded the alarm at the Ministry of Environment and Energy and the competent authorities.

The Energy Ministry estimates that the efficiency projects to be implemented in public buildings have the potential to generate savings up to 40 billion Turkish Liras between 2024 and 2030, which is equivalent to the cost of building a large dam.

The National Program for the Development of Offshore Wind Farms has created high expectations.

The rapid development of renewable energy sources and the strong interest in energy transition projects are driving the Greek electrical system to its limits, technically and economically, at surprising speed.

Saudi Arabia and Russia have agreed to extend their voluntary oil production cuts through the end of this year, trimming 1.3 million barrels of crude out of the global market and boosting energy prices.

The dual announcements from Riyadh and Moscow pushed benchmark Brent crude above $90 a barrel in trading yesterday, a price unseen in the market since November.

Around $10 billion has been invested in solar power over the past year triggered by a new regulation, Mustafa Yılmaz, head of the Energy Market Regulatory Authority (EPDK) has said.

Electricity produced by Türkiye's hydropower plants declined around 30 percent in January-June due to drought, while more drop in power generation is likely in August, according to a trading group.

The Energy Ministry has announced that it selected four regions as potential sites for offshore wind power Renewable Energy Resource Area (YEKA).

Those sites include the locations in the Bandırma, Bozcaada, Gelibolu and Karabiga regions.

The Ministry of Environment and Energy is aiming for the abolition of emergency measures in the retail electricity market in September but also for a return to normality from December or even the new year, and not on October 1 as expected. 

Israel on Tuesday unveiled plans to build an underwater electric cable that will run along its Mediterranean coast and offer the possibility to connect to electricity grids in Europe.