Conexio consulting

Turkey and China to cooperate in a 600 million dollar energy storage facility

The Giga Energy Storage Facility agreement signed in Ankara, will takeTurkey’s technology infrastructure and experience in battery production to the next level. The agreement, which is also an important cooperation in terms of strategic commercial relations between China and Turkey, was signed. At the ceremony in Ankara, Sami Aslanhan, Chairman of the Board of Directors of Kontrolmatik Teknoloji, and Pan Sheng, Chief Representative of HEI, signed the 1000 MWh Electricity Storage and 250 MW Wind Power Plant Project between Progresiva Enerji Yatırımları Ticaret A.Ş. and Harbin Electric.

Cevdet Yılmaz, who attended the signing ceremony, stated that exports from Turkey to China in different sectors should increase and said, “Tourism and direct investments should be supported in an understanding that compensates for imbalances in trade. We want to see more Chinese tourists in Turkey, we want to see more direct investments from China in Turkey.”

Yılmaz stated that the facility is Turkey’s largest grid-scale energy storage project with a storage capacity of 1 gigawatt/hour. Noting that a wind power plant with an annual electricity generation of 875 million kilowatt/hour will also be realized with the storage facility to be established, Yılmaz pointed out that the total investment amount will exceed 600 million dollars. Yılmaz said, “The contract for the first phase of $375 million of this investment has reached the signing stage. In this context, Harbin Electric will provide financing amounting to 300 million dollars. Progresiva will realize this investment with its equity capital.”and “With this project, our national capabilities will be developed, Turkey will enter a new phase in battery technologies and Europe’s largest energy storage facility will be realized.”

Progresiva, one of Kontrolmatik group companies, is realizing Turkey’s largest grid-scale energy storage project in Tekirdağ. With this facility, which will be Turkey’s first GWh capacity energy storage facility, a Wind Power Plant (WPP) with an annual generation capacity of 875 million kWh hours will also be commissioned. Progresiva has signed an agreement with China’s Harbin Electric International Company (HEI) for the construction of the energy storage facility. HEI will provide 300 million dollars of financing for the project from China, while Kontrolmatik group company Pomega will provide the local storage systems.