Monday, 30 January 2023
UK Export Agency to Finance Turkey's Biggest Solar Energy Plant

UK Export Agency to Finance Turkey's Biggest Solar Energy Plant


A British export credit agency will provide financing for Turkey's largest solar facility in central Konya province, which will provide electricity to approximately 2 million Turkish households and prevent 1.5 million tons of carbon emissions.

Britain's export credit agency UK Export Finance (UKEF) would provide over 217 million British pounds ($291.04 million) of government backing for the construction of Turkey's largest solar facility, in its largest-ever guarantee for a solar project. Turkey's Kalyon Enerji's 1.35 gigawatts (GW) Karapınar solar project will deliver clean electricity to approximately 2 million Turkish households when completed in late 2022. "With over 200 million pounds worth of backing, we are helping to bring solar energy to 2 million Turkish households," International Trade Secretary Anne-Marie Trevelyan said in the statement. "UKEF's financing encourages other countries to invest in renewable energy and opens new markets for U.K. businesses that will power a recovery underpinned by green jobs." Turkey currently ranks 13th globally and seventh in Europe with 7,154 megawatts (MW) of solar capacity.