Turkish renewable energy company, Kalyon Enerji, has secured a €249 million ($272 million) loan, backed by UK Export Finance (UKEF) and Poland's KUKE, to construct Turkey's second-largest solar power project. This project will consist of seven solar power plants across Bor-Niğde, Gaziantep, and Şanlıurfa-Viranşehir provinces, with a combined capacity of 390 MWp (megawatt peak).
Upon completion, the project is projected to generate enough clean energy to power over 65,000 Turkish households annually. This aligns with Turkey's commitment to renewable energy, which currently comprises 54% of the country's total installed electricity capacity.
The project also benefits UK and Polish exporters. British firm GE Vernova will supply crucial equipment, supporting jobs in the Midlands, UK. Polish exporters will contribute security systems and steel components, creating jobs in their manufacturing and logistics sectors.
The deal demonstrates the collaborative efforts between Turkey, the UK, and Poland to accelerate the transition to a low-carbon economy. It highlights the growing significance of renewable energy investments and the role of export credit agencies in facilitating such projects.
