A reliable supply of electricity is critical for our modern society, and any large-scale disturbance of the electrical system causes substantial costs. In 2015, one overloaded transmission line caused a cascading failure in the Turkish power grid, affecting about 75x106 people. Here, we analyze the Turkish power grid and its dynamical and statistical properties. Specifically, we propose, for the first time, a model that incorporates the dynamical properties and the complex network topology of the Turkish power grid to investigate cascading failures. We find that the network damage depends on the load and generation distribution in the network with centralized generation being more susceptible to failures than a decentralized one. Furthermore, economic considerations on transmission line capacity are shown to conflict with stability.