Turkey wants energy independence.. There is a lot of chin wagging with the EU and Russia about energy.. but the last thing they want is to be completely dependent on (a) foreign power. Nationalists / strong men love standing on their own feet.. It's a good thing to do for the most part - be able to look after your own. A diversity of energy sources gives them security and options. More oil, nuclear in Turkey and renewables.
The country aims to invest $11 billion in the energy sector of the country during the period from 2017 to 2023.
Over the past two years, $1.9 billion have been invested in the country's energy sector, while 30 percent of these funds are invested in the development of renewable energy sources.
Turkey is one of the richest countries in the world in terms of renewable resources – hydro, wind, solar, geothermal and others. For geothermal energy the country is ranked first in Europe and seventh in the world. In addition, the solar energy is abundant due to its geographical position in the world.
The election result is a good thing for GSL.. The Energy Minister is the President's son in law https://en.wikipedia.org/wiki/Berat_Albayrak ... Commitments about future support continue to have life without any ministry shake ups...
There have been more than enough changes in Turkey for GSL to date. Here's hoping it's steady as she goes. Hats off to RC and his team for staying the course despite obstacles and unfair criticism (including Hot Copper!)
GSL Price at posting:
17.0¢ Sentiment: Buy Disclosure: Held