European Energy Market

European countries generally appear as countries that do not have energy reserves in their own territories and are foreign-dependent in energy. Because, when looked at, oil and natural gas reserves in the European lands are at a level that is almost non-existent. This situation pushes European countries to import energy from Middle East countries. However, in the last 20 years, some development and investment studies have been carried out in the European energy market and energy costs have been reduced by providing energy savings. The most prominent factor here is the investments made in renewable energy sources. As it is known, renewable energy is the type of energy that does not need a reserve and is produced in almost all countries and geographies. At this point, in Europe, where underground fossil fuel resources are quite scarce, electricity generation has begun to be realized by using energy types suitable for every geography, such as wind and solar energy.

In Europe, on the one hand, foreign dependency in energy needs is reduced, on the other hand, production from renewable energy is transferred. Between 2005 and 2015, the share of renewable energy sources in energy consumption in European countries increased from 9% to 18%, and the use of renewable energy doubled. Apart from renewable energy, dependency on fossil fuels has further decreased thanks to the clean energy reforms carried out by Europe. Because, Europe has made regulations to reduce the use of fossil fuels and to increase the production and use of renewable energy sources with various regulations.

Despite all this, investing in energy in the European energy market is a very costly and difficult process. For this reason, some European countries and European investors make various investments in the energy sectors in the countries located in the nearby geography. The main goal of these investments is to supply energy resources, which are more costly to produce in their own countries, from outside in a convenient and rapid manner. At this point, one of the first choices of Europe is the Republic of Turkey. Because Turkey is the country that makes the most renewable energy investment among developing countries. At the same time, the installed power in Turkey has increased significantly in the last ten years and the government's incentives and grants in the energy sector have also increased.