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this research remains at the initial<br />
stages, and technological breakthroughs<br />
are highly unlikely in the<br />
near future. Furthermore, there is a<br />
lack of well-developed cooperation<br />
between the industry, government<br />
and scientific institutions in this<br />
context. These various deficiencies,<br />
together with a low level of public<br />
and private investment, have limited<br />
the development of high tech<br />
innovation in green technology in<br />
particular and the green economy<br />
in general. By contrast, the more<br />
industrialised countries are already<br />
generating fierce competition - not<br />
only to protect the planet from the<br />
GHG emissions, most of which were<br />
created by them, but also in order to<br />
advance their economic prosperity.<br />
Moreover, Turkey remains reliant<br />
on foreign gas. It has been signing<br />
long-term contracts with its suppliers,<br />
namely Russia, for a period of 20<br />
to 25 years. During the past decades,<br />
the share of gas in its power generation<br />
has sharply increased, and now<br />
supplies half of Turkish electricity<br />
demand. This poses a major obstacle<br />
to the promotion of renewables. Another<br />
point is that even though Turkish<br />
energy policy focuses on increasing<br />
the use of hydropower, it has unfortunately<br />
been experiencing water<br />
scarcity for the past couple of years<br />
due to drought problems. It is also<br />
embroiled in an international dispute<br />
over its main rivers, which supply<br />
an important part of its hydropower<br />
generation. These problems<br />
have raised the question of whether<br />
Turkey will be able to fulfil the 2023<br />
target for hydropower. There is no<br />
concern in relation to supply scarcity<br />
for wind, geothermal and solar<br />
energy sources; there the problems<br />
are related to deficiencies in technology,<br />
investment, and R&D.<br />
So how can Turkey deal with these<br />
various challenges Turkey has already<br />
launched initiatives for cooperation<br />
in the renewable energy<br />
sector with more developed countries<br />
such as Germany. Through this<br />
energy cooperation, Turkey hopes<br />
to transfer the technology its industry<br />
needs, and to gain access<br />
to more foreign capital in order to<br />
overcome the lack of investment<br />
faced by its domestic sector. In addition<br />
to bilateral cooperation, in-<br />
123<br />
CASPIAN REPORT, FALL <strong>2014</strong>
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