Credit support from England to Kalyon Holding for Karapinar solar energy

The UK Export Credit Agency (UKEF) announced that it will provide £217 million to Kalyon Holding, which will build Turkey’s largest solar power plant.

GE Energy Financial Services received a $291 million loan guarantee from JP Morgan for the inverter project it carried out within the scope of the Karapinar solar power plant (GES).

According to the statement made by the company, GE Energy Financial Services will obtain the loan to be obtained for the project in Karapinar SPP, which will be owned by Kalyon Energy and will have a capacity of 1.35 gigawatts, through the United Kingdom Export Credit Agency (UKEF).

The transformers required for integration into the solar inverter system will be produced at the GE Grid Solutions production facility in Gebze.

In this context, GE Energy Financial Services received a loan guarantee of $291 million (£217 million) from JP Morgan for the inverter project it carried out within the scope of Karapinar SPP.

Prakash Chandra, Chief Executive Officer of GE Renewable Energy Renewable Hybrid Systems, whose views were included in the statement, stated that Turkey’s potential in solar energy is huge and said, “This potential can be addressed with smart solutions that will help integrate solar energy into the grid reliably and at plant scale. We are excited to work with Kalyon Energy on these projects and look forward to opportunities to increase renewable energy penetration in Turkey.”


Anne-Marie Trevelyan, the UK’s Minister of International Trade, said: “With the support of over £200 million, we are helping two million households in Turkey benefit from solar energy. The decisive steps taken by the United Kingdom in the fight against the climate crisis alone are not enough. UKEF’s funding encourages other countries to invest in renewable energy as well.”

Source: Sabah / Translated by Irem Yildiz

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