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ENGIE to Build 22 MW Solar Project for Saudi Cement Factory

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					</table>Türkiye&#8217;s <a href="https://www.trade.gov.tr/" target="_blank" rel="noopener">Ministry of Commerce</a> has recently issued an order regulating solar panel imports from Vietnam, Malaysia, Thailand, Croatia, and Jordan.
By regulating solar cell and module imports, Türkiye aims to create a level playing field for domestic and international renewable energy stakeholders.
The order is an extension of the measures outlined in last year&#8217;s Communiqué on the Prevention of Unfair Competition in Imports.
&#8220;The application of this measure is a direct response to attempts to circumvent existing surveillance on imports, particularly with re-exports from these countries following surveillance on Chinese-origin panels,&#8221; the government said.
The primary objective of the order is to regulate the import of solar photovoltaic cells, which attract customs tariffs. A guarantee of $25 per square meter has been specified for such imports.
It aims to establish procedures and principles governing the application of guarantees when an investigation is initiated against unfair competition in imports.
The guarantee amount is meant as a safeguard against unfair trade practices. The guarantees will be encashed if the measures are enforced following an investigation. Conversely, the guarantees will be returned to the importers if the investigation concludes without any measures.
Earlier this year, India&#8217;s Directorate General of Trade Remedies initiated an anti-dumping investigation on imported textured, tempered, coated, and uncoated solar glass originating in or exporting from China and Vietnam.
Indian <a href="https://cms.mercomindia.com/ventyr-norway-offshore-wind-auction/" target="_blank" rel="noopener">exports</a> of solar components to Turkiye have so far been negligible.
According to the International Energy Agency&#8217;s (IEA) World Energy Outlook published in November 2023, Türkiye <a href="https://www.mercomindia.com/global-solar-module-manufacturing-by-2030-iea" target="_blank" rel="noopener">accounted</a> for around 1% of the total global solar manufacturing capacity.
Hybrid power projects are <a href="https://www.mercomindia.com/turkiyes-hybrid-projects-help-solar-surpass-wind-capacity" target="_blank" rel="noopener">becoming</a> critical to Türkiye&#8217;s solar energy goals because of their capability to generate electricity from both primary and secondary sources connected to the grid at the same location, according to energy think tank Ember.

Türkiye Imposes Security Deposit on Solar Panel Imports

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					</table>Hybrid power projects are emerging as key players in Türkiye&#8217;s pursuit of solar energy goals because of their capability to generate electricity from both primary and secondary sources connected to the grid at the same location, an energy think tank, <a href="https://ember-climate.org/" target="_blank" rel="noopener">Ember</a>, reported.
The implementation of hybrid power projects and the conversion of existing power projects to hybrids where solar is the secondary source became possible in Türkiye through a regulatory amendment in 2020.
As of the end of 2023, solar was the secondary source for all 240 operational and planned hybrid power projects in Türkiye.
The strategic integration of solar power provides additional electricity generation, optimizing infrastructure costs by connecting to the grid from the same point as the primary source.
According to the report, hybrid solar power projects can help Türkiye achieve its clean energy targets by allowing solar potential to be utilized together with other renewable generation.
The report delves into the installed capacity, project pipeline, and allocated grid capacity of hybrid solar power projects in Türkiye as of the end of 2023.
Solar Capacity Surpasses Wind
Officially reported installed capacity statistics indicate Türkiye&#8217;s solar capacity reaching 11.7 GW and wind capacity at 11.8 GW by the end of 2023. However, these figures exclude the secondary solar capacity installed in hybrid power projects.
According to the Energy Market Regulatory Authority (<a href="https://erranet.org/member/emra-turkiye/" target="_blank" rel="noopener">EMRA</a>), Türkiye has incorporated 510 MW of secondary solar capacity as of 2024, propelling total solar capacity to surpass wind at 12.2 GW.
<img loading="lazy" decoding="async" class="aligncenter wp-image-63736" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/02/Ember-report-on-Turkey-Hybrid-Solar.png" alt="Ember report on Turkey Hybrid Solar" width="600" height="375" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/02/Ember-report-on-Turkey-Hybrid-Solar.png 748w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/02/Ember-report-on-Turkey-Hybrid-Solar-300x187.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/02/Ember-report-on-Turkey-Hybrid-Solar-650x406.png 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/02/Ember-report-on-Turkey-Hybrid-Solar-624x390.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/02/Ember-report-on-Turkey-Hybrid-Solar-600x375.png 600w" sizes="(max-width: 600px) 100vw, 600px" />
Ember states that the absence of hybrid capacity in official statistics undermines the accuracy of analysis and planning. Constituting 4.2% of total installed solar capacity, the inclusion of hybrid solar capacity in official statistics is crucial for a more comprehensive understanding of Türkiye’s renewable energy landscape.
Hybrid solar capacity predominantly integrates with wind power installations, with 63% of the secondary solar capacity installed in 14 projects where wind serves as the primary source.
The synergy between solar and wind, characterized by their inverse hourly generation patterns, allows for a more stable generation profile in wind-solar hybrid power projects.
While hydro comes second after wind with 80 MW of secondary installed solar capacity, all of this capacity is concentrated in the Aşağı Kaleköy Hydroelectric Power Project (HEPP), the sole hydro-solar hybrid project in Türkiye.
Regional Concentration and Hybrid Solar Generation
Hybrid power projects are distributed across 28 provinces in Türkiye, with significant capacity concentrated in specific regions.
Provinces such as Uşak, Bingöl, and Sivas host the highest hybrid solar capacity, accounting for 42% of the total installed capacity. Furthermore, Konya and Karaman, featuring both wind and high solar potential, contribute an additional 15% to the overall capacity.
The estimated annual generation of hybrid solar power projects, considering installed capacity and solar potential, is close to 800 GWh. This represents 4.2% of Türkiye’s total solar energy production in 2023.
The report noted that despite regulatory amendments in October 2023, which require reporting electricity generation from secondary sources and distinguishing solar and wind capacities at the regional level, challenges persist.
Hybrid solar generation data remains included as part of the primary source in official data before November 2023, impacting the accuracy of past generation records.
According to the report, despite the challenges, Türkiye&#8217;s hybrid solar capacity holds promise. With permitting processes completed for a capacity four times the current installed capacity, there is 1.9 GW of approved hybrid solar capacity yet to be installed, equivalent to 16% of all installed solar capacity in the country.
Floating Solar as a Catalyst for Hybrid Capacity Development
Exploring the potential of floating solar, Türkiye currently has 80 GW of untapped capacity. Despite this, no floating solar projects have been integrated into hybrid power projects, except for the Aşağı Kaleköy HEPP with ground-mounted solar modules.
Türkiye took a significant step towards utilizing floating solar potential through a bill submitted in January that allowed floating solar installations on dammed hydro reservoirs.
The bill paved the way for the designation of renewable energy resource areas on power project reservoirs, enabling floating solar tenders alongside the installation of secondary solar capacity on water surfaces at hybrid power plants.
Transparent and Comprehensive Energy Strategy
While Türkiye has made strides in incorporating hybrid power projects into its energy landscape, challenges persist, including the need for transparent capacity allocation processes and comprehensive planning.
A regulatory amendment in October 2023 addressing solar and wind capacities at the regional level was a positive step.
Ember stated that for Türkiye to reach its 53 GW solar capacity target by 2035, a holistic energy strategy that considers the role of hybrid power projects and floating solar power and anticipates their installations is crucial.
The journey to unlock Türkiye&#8217;s solar potential continues, with hybrid power projects poised to be instrumental in achieving the nation&#8217;s renewable energy ambitions.
In an earlier webinar <a href="https://www.mercomindia.com/insurance-prominence-wind-solar-hybrid-projects-centerstage" target="_blank" rel="noopener">hosted</a> by Mercom India, industry experts discussed how wind-solar hybrid projects are a practical solution to tackle the intermittency issues of standalone wind and solar energy sources and are poised to play a critical role as a generation source going forward.
Mercom earlier <a href="https://www.mercomindia.com/top-developments-wind-hybrid-market-2023" target="_blank" rel="noopener">reported</a> the top developments that influenced the wind and hybrid power market in India during 2023.

Türkiye’s Hybrid Projects Help Solar Surpass Wind Capacity with 11.7 GW

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					</table>The United Kingdom-based renewables company <a href="https://www.hiveenergy.co.uk/" target="_blank" rel="noopener">Hive Energy</a> said it will seek direct investment of $4 billion for over 4 GW of proposed co-located solar and battery storage projects across 30 sites in Turkey.
The capacities of the projects are likely to range from 11 MW to 230 MW, and their applications would be focussed on 19 cities. The average energy yield for solar projects is over 2,000 kWh for every unit of energy.
The company is currently awaiting the pre-license for the grid capacities which is likely to be granted by the first quarter of 2023. Once the approvals are given, Hive will negotiate with international funds and financial institutions to attract foreign direct investment to Turkey.
The Turkish National Energy Plan 2022, published by the Ministry of Energy and Natural Resources estimates that the installed capacity of solar will peak at 52.9 GW by 2035.
Hive has operated in Turkey since 2015 and successfully commissioned 10.5 MW solar power projects in the country. The plant generates 18 million kWh of electricity every year.
The company has also completed or sold 45 solar projects across the UK, Spain, and Cuba. Additionally, it is developing a renewable energy pipeline totaling 26 GW in capacity across 20 countries, comprising solar, battery, wind, green hydrogen, and green ammonia projects.
General Manager, Hive Energy, Turkey Tolga Metin said, “We have already started negotiations with some funding and financial institutions. This is a fantastic growth of our portfolio in Türkiye. The capacity of current applications corresponds to 350 times more than our current installed capacity in the country. The UK is home to various proficient funding agencies, and as Hive Energy has ties to these funding institutions for years, we hope to quickly find suitable partners for the funding of these projects.”
In November last year, Germany-based independent power producer Encavis <a href="https://mercomindia.com/project-finance-brief-sunwin-energy-solar-project-portfolio/" target="_blank" rel="noopener">acquired</a> a 55 MW ready-to-build solar project in Spain from Hive Energy.
In December 2022, a China-headquartered solar module maker TaleSun Solar <a href="https://mercomindia.com/daily-news-wrap-up-switch-mobility-71-buses-jsws-transportation/" target="_blank" rel="noopener">inked</a> a framework agreement with MEM Group to jointly build a module production line with an annual capacity of 1 GW in Turkey.

Hive Energy to Seek $4 Billion Funds for Solar and Battery Projects

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					</table>Here are some noteworthy cleantech announcements of the day from around the world:
Ashok Leyland and researchers of the Indian Institute of Technology Madras (IIT Madras) at the National Centre for Combustion Research and Development (NCCRD) have <a href="https://www.ashokleyland.com/in/en/customers/press-release/ashok-leyland-and-iit-madras-researchers-join-forces-to-develop-hybrid-electrical-vehicles-using-turbine-technology" target="_blank" rel="noopener">partnered</a> to develop hybrid electric vehicles (EVs) using turbine technology. The collaboration will see the development and commercialization of the ‘Swirl Mesh Lean Direct Injection (LDI) system’ technology to develop a series of hybrid EVs using turbine technology. The IIT Madras researchers are developing an indigenously designed Micro Gas Turbine, which will replace the large battery. As part of the collaboration, Ashok Leyland handed over to NCCRD a nine-meter passenger electric bus.
Enercon, a Germany-based wind turbine manufacturer, and Enerjisa Üretim, a Turkey-based renewable energy company, have <a href="https://www.enercon.de/en/news/news-detail/cc_news/show/News/enercon-und-enerjisa-ueretim-buendeln-kraefte-fuer-wind-onshore-in-der-tuerkei/" target="_blank" rel="noopener">agreed</a> to develop a 1 GW YEKA RES 2 wind project in Turkey. Enercon will supply the wind energy converter (WEC) technology and deliver 240 E-138 EP3 E2 WECs within the next four years. In the YEKA RES 2 tender held in 2019, the 1,000 MW capacity was won by Enercon and Enerjisa Üretim – each company with a share of 500 MW. Enercon’s role as ‘technology supplier’ and Enerjisa Üretim’s part as ‘investor and operator’ were part of a cooperation agreement.
Statkraft <a href="https://www.statkraft.co.uk/newsroom/news-and-stories/archive/2022/statkraft-announces-first-uk-green-hydrogen-project-pembrokeshire/" target="_blank" rel="noopener">announced</a> its first UK green hydrogen project &#8211; Trecwn Green Energy Hub &#8211;  in Pembrokeshire, which would generate approximately three tons of green hydrogen a day. The green hydrogen generated at Trecwn would be used to power trains running on railway lines west of Swansea and also power Pembrokeshire Council’s fleet of heavy goods vehicles and local buses, with the site able to produce enough green hydrogen to run around 170 buses every day, when operational.
GAUSSIN, a France-based automobile company, and Lhyfe, a green hydrogen solutions provider, <a href="https://www.lhyfe.com/press/gaussin-and-lhyfe-form-a-strategic-partnership-aimed-at-accelerating-the-development-of-hydrogen-mobility-at-port-airport-and-logistics-sites/" target="_blank" rel="noopener">announced</a> a strategic partnership to accelerate the development of hydrogen mobility at the port, airport, and logistics sites. According to the terms of the memorandum of understanding signed by GAUSSIN and Lhyfe, the two operators will study the possibility of developing a comprehensive renewable mobility solution combining the hydrogen vehicles of GAUSSIN and the green and renewable hydrogen produced by Lhyfe. The partnership also includes a commercial component aimed at identifying potential customers in France and abroad, likely to be interested in such an all-around renewable mobility solution for logistics, port, and airport sites.
Wärtsilä <a href="https://www.wartsila.com/media/news/07-10-2022-wartsila-reaching-final-commissioning-for-netherland-s-largest-energy-storage-system-3166346" target="_blank" rel="noopener">announced</a> that it would commission its first energy storage project in the Netherlands, which is the country’s largest system to date, called the GIGA Buffalo battery, a 24 MW/ 48 MWh energy storage system. It consists of Wärtsilä’s Gridsolv Quantum and GEMS Digital Energy Platform. The GIGA Buffalo battery is co-located with wind and solar assets at Lelystad&#8217;s Wageningen University &amp; Research test center. It is expected to provide Eneco, the Netherlands-based energy provider, with the energy capacity necessary to alleviate intermittency from renewables and regulate energy frequency while adding reliability to the grid. It would also improve revenues by optimizing the value of the renewable assets and providing capacity that can be dispatched during peak demand.

Daily News Wrap-Up: Ashok Leyland and IIT Madras to Develop Hybrid EVs

Turkey has floated a tender for the fifth auction round of its Yenilenebilir Enerji Kaynak Alanları (YEKA) program to award 1.5 GW of solar capacity.
The bids must be submitted on January 12, 2022. The <a href="http://www.enerji.gov.tr/" target="_blank" rel="noopener">Ministry of Energy and Natural Resources</a> set a ceiling tariff of 0.40 Turkish Liras (TRY) (~$0.045)/kWh for the tender.
With this tender, Turkey expects to select 76 large-scale solar projects with capacities ranging from 10 MW to 30 MW across 23 regions.
To participate in the bidding process, bidders must submit TRY 5 million (~$564,674) for 10 MW capacity, TRY 10 million (~$1.13 million) for 20 MW capacity, and TRY 15 million (~$1.69 million) for 30 MW capacity as a letter of guarantee.
In May 2021, Turkey allocated 1 GW of solar capacity ranging from 10 MW to 20 MW.
Turkey has targeted a total solar capacity of 15 GW by 2027. The country is likely to meet the target a year earlier. It achieved the 5 GW capacity targeted by 2023 in 2018. In 2020, 98% of the installed power capacity was from renewable energy projects.
In February 2021, Turkey’s electricity generation from solar projects <a href="https://mercomindia.com/daily-news-wrap-up-turkeys-solar-increased-50/" target="_blank" rel="noopener">increased</a> by 50% compared to the same period last year. The share of solar power in the country’s power mix has increased by 3.7% since it came online in 2002. Solar power accounts for 7.1% of the installed capacity, with the installed solar capacity reaching 6.8 GW. The country ranks third in Europe and ninth in the world in terms of installed solar power since 2014.
Mercom had earlier <a href="https://mercomindia.com/turkey-tender-1-gw-wind/" target="_blank" rel="noopener">reported</a> that Turkey opened a tender for 1 GW of wind power projects which are to be developed at four locations in the country. According to the Turkish Official Gazette, the government will procure power from these projects for a period of 15 years. The country plans to have 2 GW of wind energy by 2023.
In August 2020, Turkey inaugurated its integrated solar module manufacturing facility. The 500 MW solar ingot-wafer-module-cell production factory owned by <a href="https://kalyongrup.com/Energy/Energy#project" target="_blank" rel="noopener">Kalyon Holding</a> will be operated through an investment of $400 million (Turkish Lira 2.9 billion).

Turkey Floats Tender for 1.5 GW of Solar Projects

Here are some of the significant cleantech announcements of the day from around the world:
Turkey’s electricity generation from solar projects increased by 50% in February 2021 compared to February 2020, the country’s energy and natural resources minister Fatih Donmez <a href="https://www.aa.com.tr/en/energy/natural-gas/turkey-s-solar-power-generation-soars-50-energy-min/32231?amp=1" target="_blank" rel="noopener">said</a>. The share of solar power in Turkey’s power mix has increased by 3.7% since it came online in 2002. Solar power constitutes 7.1% of the installed capacity, with the installed solar capacity reaching 6.8 GW by the end of February this year. The country ranks third in Europe and ninth in the world in terms of installed solar capacity since 2014.
AGL, an Australian energy company, <a href="https://www.agl.com.au/about-agl/media-centre/asx-and-media-releases/2021/march/agl-prepares-for-construction-of-grid-scale-battery-at-torrens-island" target="_blank" rel="noopener">announced</a> that the construction of a 250 MW, one-hour duration grid-scale battery at Torrens Island would get underway this year, following AGL’s final investment decision on the project. AGL Managing Director and CEO Brett Redman said South Australia is leading the way in the rollout of AGL’s 850MW network of grid-scale batteries by the end of FY 2024. The company is targeting full operation of the system by early 2023. The battery has been planned to expand to four hours in duration, enabling AGL to adapt to changing market conditions.
The Electric Power Research Institute (EPRI) <a href="https://www.prnewswire.com/news-releases/doe-awards-epri-2-million-to-investigate-co-adoption-of-solar-energy-storage--electric-vehicles-301253913.html" target="_blank" rel="noopener">announced</a> that it would receive a $2 million contract from the U.S. Energy Department to explore how information about solar energy spreads among consumers. EPRI was selected to examine how residential and commercial utility customers make decisions related to solar power co-adoption with other technologies, such as energy storage and electric vehicles. EPRI, in collaboration with National Renewable Energy Laboratory (NREL) and Lawrence Berkeley National Laboratory, will assess residential and commercial customer preferences, influences, and decision-making for adopting solar power with energy storage and electric vehicles.
Fortescue Future Industries, a wholly-owned subsidiary of Fortescue Metals Group, and Porto do Açu Operações S.A., a subsidiary of Prumo Logistica S.A., have <a href="https://portodoacu.com.br/en/fortescue-future-industries%e2%80%afand-port-of-acu%e2%80%afjoin-forces-to-develop-green-hydrogen-plant-in%e2%80%afbrazil/" target="_blank" rel="noopener">signed</a> a memorandum of understanding to develop hydrogen-based green projects in Rio de Janeiro, Brazil. The project envisages the construction of a 300 MW capacity green hydrogen plant at Port of Açu, with a potential to produce 250,000 metric tons of green ammonia per year.
<a href="https://www.renault-trucks.com/en" target="_blank" rel="noopener">Renault Trucks</a>, a subsidiary of Volvo Group, is continuing its foray into electric mobility. From 2023, an all-electric Renault Trucks offer will be available for each segment, including distribution, construction, and long-distance. The company is setting up an organization dedicated to electric mobility. It is committed to transforming the truck market by gradually electrifying its fleet to become carbon-neutral within 30 years. As trucks have a lifespan of at least ten years, all trucks manufactured by 2040 must run without fossil fuels.
Here is our <a href="https://mercomindia.com/daily-news-wrap-up-madhav-epc-20-mw-solar/" target="_blank" rel="noopener">previous</a> daily news wrap-up.

Daily News Wrap-Up: Turkey’s Solar Power Generation Increased by 50% in February 2021

Turkey recently inaugurated its integrated solar module manufacturing facility according to local media reports.
The major solar ingot-wafer-module-cell production factory owned by <a href="https://kalyongrup.com/Energy/Energy#project" target="_blank" rel="noopener noreferrer">Kalyon Holding</a> will be operated through an investment of $400 million (Turkish Lira 2.9 billion). According to President Erdoğan, the 25-acre facility will manufacture solar modules with a capacity of 500 MW per year and would employ 1,400 people. Kalyon&#8217;s module facility will produce monocrystalline solar modules.
The components produced at the facility will be used at Turkey&#8217;s largest solar power project with a capacity of 1,000 MW, located at Karapınar district in the central Anatolian province of Konya for the first three years. This is a part of the first solar renewable energy resource zone (YEKA) tender with a capacity of 1,000 MW.
According to Turkey&#8217;s energy and natural resources minister Fatih Dönmez, the new facility will augment solar energy&#8217;s share in the country&#8217;s power generation by 25% and curb annual emission of two million tons of carbon dioxide.
Dönmez claims the facility will save imports worth $100 million each year and further added that Turkey is the ninth nation in the world and third in Europe to have increased its installed solar power capacity ever since it turned towards solar in 2014.
According to the Turkish finance minister, Berat Albayrak, two-thirds of the country&#8217;s electricity generation is derived from domestic and renewable resources.
During the inauguration ceremony, Kalyon Holding&#8217;s chairman of the board, Cemal Kalyoncu, stated that the facility is the first and only fully integrated factory in the world that combines all stages of solar module production, including research and development (R&amp;D), under a single roof.
A consortium of Kalyon Holding and South Korean company <a href="https://www.hanwha.com/en/products_and_services/affiliates/hanwha_q_cells.solar_energy.html" target="_blank" rel="noopener noreferrer">Hanwha Q-Cells</a>, had won the tender for Turkey&#8217;s biggest solar power project – the Karapınar Renewable Energy Resources Zone Project – in March 2017 at the cost of $0.0699/kWh.
However, Hanwha has stepped down and replaced by China Electronics Technology Group Corporation (CETC), which will now construct the facility and provide two years of additional technical assistance after the turnkey contract expires.
Turkey plans to boost its wind and solar capacity by 10 GW each year over the coming decade through YEKA. Donmez announced plans to hold YEKA tenders for solar energy in a new form, known as &#8216;mini YEKA, which are due in October 2020.
Mercom had earlier <a href="https://mercomindia.com/turkey-tender-1-gw-wind/" target="_blank" rel="noopener noreferrer">reported</a> that Turkey had opened a tender for 1 GW of wind power projects, which are to be developed at four locations in the country. According to the Turkish Official Gazette, the country will procure power from these projects for 15 years.
Meanwhile, according to government <a href="https://mercomindia.com/india-solar-imports-q1-2020/" target="_blank" rel="noopener noreferrer">estimates</a>, India&#8217;s solar exports to Turkey stood at 10.1% in the first quarter of the calendar year 2020.
Image credit: LONGi Solar

A Vertically Integrated Solar Module Manufacturing Facility Opens in Turkey

Turkey’s Ministry of Energy and Natural Resources has opened a tender for 1 GW of wind power projects which are to be developed at four locations in the country. According to the Turkish Official Gazette, the country will procure power from these projects for a period of 15 years.
Per the Gazette, the projects will be developed in Balikesir, Canakkale, Aydin, and Mugla provinces.  All of these four provinces are located in the western region of Turkey.
The deadline for the bidders to submit bids is March 7, 2019. According to the notification, each location is slated to have a wind project of 250 MW capacity, totaling 1 GW spread across the four locations.
This is the second 1 GW wind tender issued by the Ministry of Energy and Natural Resources in Turkey. Back in August 2017, the ministry had awarded 1 GW of wind projects to a consortium comprising Siemens Gamesa, Kalyon Enerji, and Turkerler Holding, in the country’s first-ever wind reverse auction.
In that wind auction, a tariff of $0.348/kWh was quoted. According to the tender requirements, the winner also had to set up and establish a local wind turbine factory in the country. During the first stage, the turbine assembly plant was to supply locally-manufactured components required for the development of 1 GW of wind projects which had been slated to be complete within the first 21 months after the award of the contract.
These recent initiatives undertaken in the country are testament to the fact that this middle-eastern country is committed towards increasing its share of renewables to 30 percent of the national energy mix. Per Turkey’s vision for 2023, the country plans to install 20,000 MW of wind energy by then.
<a href="https://mercomindia.com/ifc-investments-pvt-sector-europe-central-asia/" target="_blank" rel="noopener">Recently</a>, the International Finance Corporation (<a href="https://www.ifc.org/" target="_blank" rel="noopener">IFC</a>) announced that it has expanded its operations in Europe and Central Asia with investment commitments reaching $2.9 billion. IFC’s largest commitments during the last fiscal year were in Turkey ($1.1 billion), Romania ($336.4 million), Serbia ($190.5 million), Ukraine ($129.1 million) and Kazakhstan ($111.5 million).
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