World Bulletin / News Desk
Turkey's strategy to boost the country's domestic energy resources continued with Monday's solar tender, but wind energy will be the next step in this strategy, Energy and Natural Resources Minister Berat Albayrak said Monday.
Albayrak explained that the Kalyon-Hanwha consortium won the tender bid on Monday for the construction of Turkey's biggest solar power plant in Karapinar in the central Anatolian region at a cost of $0.0699 per kilowatt-hour.
The Minister hailed the project as a day of revolution for Turkey's energy sector, and added that "in the coming months, we will see a similar tender in wind energy."
"This project is a crucial turning point for our strategy. Overall four companies participated in today's tender. Obviously, the result of this revolutionary tender was a testimony to the beginning of a process in which energy will be exported to both Turkey and the region," he said.
Turkey has already begun a strategy to boost the country's domestic energy resources, including coal and renewables. The capacity of local resources in the total energy mix is expected to grow further.
According to the ministry's 2015-2019 Strategic Plan, 32,000 megawatts of production capacity in hydro power is targeted, 10,000 megawatts is aimed for wind, 1,000 megawatts in geothermal, 3,000 megawatts from solar and 700 megawatts from biomass.
Turkey aims to consolidate its position centered among energy-rich countries to reduce its energy import dependence and increase reliance on domestic resources.
Crude prices stabilised after diving more than two percent on Tuesday on increasing fears of a global supply glut, as continued production in the US and elsewhere offsets an OPEC output cut deal.
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However, most other regional markets struggled after Monday's healthy gains, despite being given a positive lead from Wall Street where the Dow and S&P 500 closed at fresh record highs.
The purchase in one fell swoop gives Amazon, which until now has operated almost entirely on the internet, a big presence in the brick-and-mortar world on Main Street, with more than 450 stores in the US, Canada and Britain.
"The Bank of Russia Board of Directors decided to cut the key rate to 9.00 percent per annum," the bank said in a statement. The cut follows a half-point decrease in late April.
Equity traders have suffered a fraught week as the crisis engulfing Donald Trump picks up pace, technology firms tumbled from recent highs and energy plays were hammered by plunging oil prices.
"In May 2017, passenger car registrations across the EU increased by 7.6 percent to 1.387 million units," ACEA said in a statement.
In the eurozone, Frankfurt's DAX 30 index climbed 0.4 percent to 12,746.05 points, and the Paris CAC 40 gained 0.5 percent to 5,243.53 compared with the close on Thursday.
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While a "rebalancing of the market" was "underway," it was "at a slower pace than originally anticipated," the Organization of Petroleum Exporting Countries wrote in its latest monthly oil market report.
US, with 30 planned LNG terminals and six under-construction, is forecast to be next leader in LNG markets