Global expands clean and renewable energy portfolio with Mardin solar

Global Investment Holdings is commissioning its first solar power plant in clean and renewable energy production, which is among its strategic investment areas. Ra Solar, a subsidiary of the Holding, has completed the provisional acceptance of the 9 MW (10.8 MWp) power plant it invested in Mardin. The installed capacity of the power plants in the portfolio of Global Investment Holding, which is among the leading investors in biomass energy production, increases to 92.3 MW with Ra Solar. 38.2 MW of installed power comes from clean and renewable energy.

Mehmet Kutman, Chairman of the Board of Directors of Global Investment Holding, said, "We aim to contribute to the economy by investing in production from renewable sources in order to reduce our country's dependence on foreign energy sources. We focus on energy solutions that are as efficient as they are clean and renewable." Kutman said, "We will continue to develop our renewable energy portfolio with new projects or acquisitions by using the relationships we have gained through our port business line in various geographies."

Atay Arpacıoğulları, CEO of Global Investment Holdings Energy and Mining, said, "It is accepted that our country has the third most suitable geography after Morocco and the USA for electricity production from solar energy. Solar energy, which constitutes only 3 percent of the total production in Turkey, maintains its development potential."

Global Investment Holding, which is among the strategic investment areas of renewable and clean energy, diversified and expanded its portfolio with the first solar power plant investment in Mardin. Ra Solar, a subsidiary of the Holding, has completed the partial provisional acceptance of its 9MW (10.8 MWp) solar power plant.

Ra Solar is expected to generate 20 million kilowatt-hours (KWh) of energy per year, meeting the electricity needs of 7,500 homes. The power plant in Mardin is expected to benefit from the Mechanism for Supporting Renewable Energy Sources (YEKDEM) for 10 years as of 2020 and sell electricity at a tariff of 13.3 US cents per KWh. The installed capacity of the power plants in the portfolio of Global Investment Holding, which is among the leading investors in biomass energy production, increases to 92.3 MW with Ra Solar. 38.2 MW of installed power comes from clean and renewable energy.

We will continue to develop the portfolio

Emphasizing that clean and renewable energy is among the three strategic investment areas as well as port management and asset management, Mehmet Kutman, Chairman of the Board of Directors of Global Investment Holding, said: "We aim to contribute to the economy by investing in production from renewable sources in order to reduce our country's dependence on foreign energy sources. We focus on energy solutions that are as efficient as they are clean and renewable. We are working to establish a diversified and balanced electricity generation portfolio in terms of resources and geography. Our strategy is to develop innovative green energy solutions through long-term, attractive, guaranteed tariffs. We will continue to develop our renewable energy portfolio with new projects or acquisitions by using the relationships we have gained through our port business line in various geographies."

The most suitable geography after Morocco and the USA

Pointing out that Turkey has an advantageous geographical position in terms of solar radiation, Global Investment Holdings Energy and Mining CEO Atay Arpacıoğulları said, "It is accepted that our country has the third most suitable geography after Morocco and the USA for the production of electricity from solar energy. Although it is mature in foreign markets, solar energy, which constitutes only 3 percent of the total production in Turkey, maintains its development potential."