Turkey's electricity index rises as the country eyes added wind, solar capacity

Smart Gunes

22/10/2024 11:34

** Borsa Istanbul electricity index  .XELKT  rises nearly
2.2% after Turkey's energy minister said the country aims to
increase its wind and solar energy installed power, a target
that will require an investment of $80 bln
    ** Shares in renewables-focused energy production companies
see large gains, with CW Enerji  CWENE.IS  and Smart Enerji
 SMRTG.IS  hitting the stock exchange's daily 10% gains cap
    ** Alfa Solar  ALFAS.IS , which also announced acquisitions
and a 5.3 mln euro ($5.7 mln) investment in Romania, rises as
much as 9.9% while Kartal Yenilenebilir Enerji  KARYE.IS  gains
5.7%
    ** Yusuf Dogan, Head of Global Markets Research at Info
Yatırım, says geopolitical risks to oil have led investors to
seek alternatives in the energy sector, with the minister's
statement fuelling the positive sentiment
    ** Trive Yatırım analyst Yakup Toktamış adds the upcoming
Erdogan-Putin meeting, which will reportedly focus on a natural
gas hub project in Turkey, is also boosting the sector

($1 = 0.9246 euros)

 (Reporting by Canan Sevgili, Miraç Eren Dereli)
 ((canan.sevgili@thomsonreuters.com;
miraceren.dereli@thomsonreuters.com))