A California-based oil and gas entrepreneur and investor, Levon Termendzhyan serves as an equity holder with Viscon International and regularly seeks out business opportunities in foreign markets. In 2013, Levon Termendzhyan formed the Turkish-based SBK Holdings and has since invested more than $500 million in the eight energy companies under its umbrella.
Around the world, investments in renewable energy have surpassed investments in traditional energy sources over the past few years. This is particularly true in Turkey, where in 2017 renewables accounted for almost half of the country's power generation. Overall, $5.6 billion was invested in renewable resources in 2017, which was responsible for 65 percent of the 100 megawatts (MW) of power generation capacity added to the power grid.
According to Oguz Can, Turkey's energy and natural resources ministry general director of renewable energy, the country allocated 3,000 MW in wind power in 2017 and led all of Europe in renewable energy capacity creation. Moreover, Turkey ranks among the top 10 European countries in solar and wind power capacity.
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