The British renewable energy company has filed application for co-located solar and battery storage projects in 19 cities, with a total capacity of around 4GW and are expected to yield an average of more than 2,000kWh/kW
Hive Energy to build 4GW solar plus storage projects. (Credit: atimedia from Pixabay)
Hive Energy is planning to procure $4bn direct investment to support its 4GW of proposed co-located solar and battery storage projects in 30 locations across Türkiye.
The British renewable energy company has filed application for co-located solar and battery storage projects in 19 cities, with capacities ranging from 11 to 230MW in scale.
Its applications target solar-based battery projects with a total capacity of around 4GW and the solar projects are expected to yield an average of more than 2,000kWh/kW.
The company and its partners will start discussions with international funds and financial institutions to attract foreign direct investment to Türkiye.
The discussions will start once grid capacities are granted for pre-license, which is expected to occur by the first quarter of 2023.
Türkiye General Manager Tolga Metin said: “Hive Energy has on-going long-term goals for renewable projects in the country. At Hive, we are implementing forward-thinking processes related to the projects.
“The UK is home to various proficient funding agencies, and as Hive Energy has ties to these funding institutions for years, we hope to quickly find suitable partners for the funding of these projects.
“Once licenses are granted in coming months, the building process of the projects will commence. The capacity of current applications corresponds to 350 times more than our current installed capacity in the country.”
Hive has been actively operating in Türkiye since 2015, with 10.5MW solar power plant project already complete, and generating 18 million kilowatt-hours of electricity per annum.
The Turkish renewable energy market is one of the fast-growing clean energy markets in Europe, with applications for SPP and RES currently reaching 160GW.
According to the Turkish National Energy Plan 2022, the Ministry of Energy and Natural Resources forecasts that the installed solar capacity will increase to 52.9GW by 2035.
Furthermore, Hive is developing a 26GW of renewable energy pipeline in 20 countries, consisting of solar, battery, wind, green hydrogen, and green ammonia projects.