GIH adds its first solar power plant to its renewable portfolio
07 November 2019
Global Investment Holdings partially commissioned its first solar power plant, Ra Solar, with 9MW (10.8 MWp) installed capacity in Mardin, increasing total generation capacity to 92.3 MW, of which 38.2 MW is from renewable sources. Ra Solar will be subject to Renewable Energy Resources Support Mechanism (YEKDEM) starting from 2020, selling electricity at 13.3 dollar-cent/kWh for ten years. Ra Solar is expected to meet the electricity requirements of more than 7.5 thousand households…
The solar plant is located in Mardin/Artuklu in Turkey’s southeast region is one of the largest solar based power plant investments in the region. The facility is expected to generate about 20 million kWh electricity per annum, meeting the electricity requirement of more than 7.5 thousand households. Mardin/Artuklu solar power plant will be subject to Renewable Energy Resources Support Mechanism (YEKDEM), selling electricity at 13.3 dollar-cent/kWh.
Global Investment Holdings’ Chairman & CEO, Mehmet Kutman, stated that: “As Global Investment Holdings, we aim to reduce our country’s dependence on energy imports by focusing on renewable resources and contribute to the country’s economy. Having been involved in clean and efficient energy solutions for the last few years, we intend to establish a diversified and a balanced power generation portfolio, both in terms of resources and geography. Our strategy is to develop green energy projects with attractive long-term feed-in tariffs and innovative energy efficiency solutions. We are also looking at the development and/ or acquisition of further renewable energy projects in a variety of regions by leveraging the local relationships of our Ports arm.
Global Power and Mining’s CEO, Atay Arpacıoğulları, further underlined that: “Turkey boasts an advantageous geographic position in terms of solar radiation. Our country is considered one of the three most suitable areas worldwide for solar energy, after Morocco and the USA, possessing an important potential in this regard. Solar is a field which is more mature and developed in other international markets, on the contrary, solar based power generation in Turkey still offers significant potential, with only around 3% current share in total electricity generation, while such share is expected to nearly double by 2022.
