Renewables

Hive Energy plans 4 GW of solar power with storage in Turkey

Hive Energy 4 GW solar power storage Turkey

Photo: Sungrow EMEA on Unsplash

Published

January 9, 2023

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Published:

January 9, 2023

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Hive Energy from the United Kingdom revealed its ambition to invest USD 4 billion in the construction of solar power plants with storage in Turkey, mostly through joint ventures with two local partners.

Hive Energy, which is developing the first green energy project in Greece with the status of a flagship investment of exceptional importance, also set its eyes on neighboring Turkey. It filed requests with the Energy Market Regulatory Authority (EMRA) for more than 30 solar power projects with storage throughout the country.

The company based in Hampshire in South East England estimated the investment at USD 4 billion and revealed that the total capacity would be 4 GW. The new projects in Turkey range from 11 MW to 210 MW. Hive Energy is working on more than 3 GW overall with its domestic partners Çuhadar Energy and Viva Energy.

The preliminary paperwork is scheduled to be completed by the end of the first quarter, after which the utility plans to obtain funds from international financial institutions, Anadolu reported. Country manager Tolga Metin claimed, in a statement for the news agency, that it would be “very easy,” arguing that Hive Energy has been working with them for years.

The company now operates a 10.5 MW solar power plant in Adıyaman in southeastern Turkey.

The country recently simplified the procedure for adding photovoltaic andx wind power capacity to storage facilities, resulting in an overwhelming response from investors.

According to Turkey’s National Energy Plan for 2035, the ambition is to reach 59.9 GW in overall solar power capacity, compared to approximately 9 GW at the moment.

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