GREEN Chemicals®, which has meticulously participated in all projects, congresses, studies, and events involving stakeholders of the geothermal energy sector in our country, has once again taken its place in the congresses held domestically this year. Furthermore, as part of our 2022 plans in the field of geothermal energy, our company has aimed to reach the entire world and proudly represented both Turkey and the GREEN Chemicals® brand on international platforms by participating in many overseas congresses.
Looking at these congresses in chronological order, we supported the 8th Indonesia International Geothermal Congress and Exhibition (IIGC) held in Indonesia between September 14-16, 2022, as a Retail Sponsor. Indonesia ranks second in the world with a geothermal power plant installed capacity of 2,276 MW and has the world's largest geothermal potential with 29,000 MW. This indicates that the installed electricity capacity from geothermal sources will continue to grow each year. With the addition of Mr. Halim SALAWAT (Business Development Manager) to our team, GREEN Chemicals® accelerated its activities and started local operations in Indonesia. Initially focusing on geothermal energy and metal surface treatment chemicals, our 2022 targets will be completed with the establishment of a distributor. In 2023, it is foreseen to build trade volume and to expand operations to other countries in the Far East, with Indonesia as the center. Our main goal is to contribute to our country’s exports by creating a difference with the know-how we have gained in Turkey and our high-quality products.
Between September 19-21, we came together with our industry stakeholders at the 5th International Geothermal Energy Congress and Exhibition (IGC Turkey 2022) held at Izmir Kaya Thermal Hotel as GREEN Chemicals®. We supported this organization as a KW sponsor and shared important insights related to the sector with our valued guests at our booth.
Participants of IGC Turkey 2022 were informed about the latest developments in science, technology, and markets presented in a high-quality congress program, including global geothermal projects, impact financing, economies of scale and cost reduction potentials, emerging technologies, and the geothermal potential of oil and gas fields.
The Turkish Geothermal Energy Market has achieved remarkable growth from 30 MWe installed power capacity in 2008 to 1,676 MWe by 2022. No other country in the world has shown such an incredible, fast, and sustainable growth in the geothermal energy sector over the past decade. The geothermal energy sector in the country continues to grow not only in electricity generation but also in direct use areas such as district heating and agricultural applications.
Between October 17-21, we also participated as GREEN Chemicals® in the European Geothermal Congress (EGEC 2022) held in Berlin, Germany. Organized by the International Geothermal Association (IGA), EGEC is the largest geothermal event in Europe. Hosting a combination of events for the entire geothermal sector, EGEC brings together stakeholders from all areas of the sector – academic, industrial, financial, policymakers, and social. The 2022 tension between Russia and the European Union and the potential risk of reduced or cut-off natural gas flow has prompted the need for new measures in European countries. At this point, we are witnessing a growing interest in geothermal projects. While continuing our operations in Europe, we have also accelerated our initiatives in the geothermal energy field. It is a valuable goal for us to promote our company and country and highlight our knowledge in geothermal energy by participating in this important organization ahead of 2023, when we expect results from our activities especially in Eastern and Northern Europe.
After finalizing our participation in three valuable organizations in 2022, we will begin implementing our plans for 2023. In addition to our operations in the Far East and Europe, our ultimate goal is to establish an organization in the United States and expand to the Americas. Starting with our product portfolios targeting the geothermal energy and mining sectors, our medium-term goal is to establish local organizations and operate in all five countries referred to as the GW Club based on installed geothermal capacity. With the completion of budget planning, team structuring, and organizational efforts, we will continue our activities at full speed in 2023.
