Turkey's Electricity Distribution Services Association (ELDER) pledged 27 billion Turkish Liras ($9.3 billion) over the next five years to upgrade the country's electricity distribution system, according to the association's head.
'We are waiting for the approval of the Energy Market Regulatory Authority of Turkey (EMRA) for the investments, and we believe that the decision will be made in favor of distribution companies,' Nihat Ozdemir, head of ELDER, Turkey's electricity distribution association, told Anadolu Agency.
After EMRA approves the pending decision, ELDER will be able to begin the process of upgrading the system.
'Electricity investments in Turkey are not sufficient,' Ozdemir said, adding that there is a long way to go for upgrading the system which has 10 million subscribers.
'Turkey's new government should follow the targets for 2023 in order to reach more than a 4 percent economic growth,' he said and added that the new government should aim to boost investments to ensure an economic growth target of between 5 to 6 percent per annum.
Turkey undertook a privatization drive in the country's electricity distribution in 2013. ELDER oversees the 21 distribution companies in Turkey and represents the interests of these companies.
By Gulsen Cagatay and Nuran Erkul
Anadolu Agency
gulsen.cagatay@aa.com.tr