{"id":50018,"date":"2024-08-09T09:37:33","date_gmt":"2024-08-09T08:37:33","guid":{"rendered":"https:\/\/www.innovationnewsnetwork.com\/?p=50018"},"modified":"2024-08-09T09:37:33","modified_gmt":"2024-08-09T08:37:33","slug":"uk-and-poland-collaborate-on-249m-solar-power-plants","status":"publish","type":"post","link":"https:\/\/www.innovationnewsnetwork.com\/uk-and-poland-collaborate-on-249m-solar-power-plants\/50018\/","title":{"rendered":"UK and Poland collaborate on \u20ac249m project for solar power plants"},"content":{"rendered":"<h2>The UK and Poland have guaranteed a \u20ac249 million loan being arranged by Standard Chartered Bank for Turkish renewable energy investment company Kalyon Enerji, enabling the construction of Turkey\u2019s second-largest solar power plants to date.<\/h2>\n<p>The 390MWp project entails the construction and operation of solar power plants at seven separate sites, with aggregate power generating capacity of 390 MWp across the provinces of Bor-Nigde, Gaziantep, and Sanliurfa-Viransehir.<\/p>\n<p>Upon completion, the project could generate enough renewable electricity to power over 65,000 households in Turkey annually.<\/p>\n<h3>Supporting the renewable energy workforce<\/h3>\n<p>The deal supports <a href=\"https:\/\/www.innovationnewsnetwork.com\/meld-energy-to-build-100-mw-green-hydrogen-production-facility\/48507\/\">UK jobs in the renewable energy sector supply chain<\/a>, particularly in the Midlands, and creates new business opportunities for Polish companies in Turkey.<\/p>\n<p>British exporter GE Vernova\u2014via its subsidiary UK Grid Solutions Ltd\u2014will supply and install inverter stations, power plant controllers, and other critical equipment for\u00a0solar power plants.<\/p>\n<p>This is expected to directly support British jobs at GE Vernova\u2019s Staffordshire site, as well as jobs in the wider UK supply chain.<\/p>\n<p>Polish exporters will deliver security systems (including software and equipment) and steel components for the project, which is expected to create jobs in the manufacturing and logistics sectors.<\/p>\n<p>Gareth Thomas, UK Minister for Exports, said: \u201cThis announcement will support jobs and businesses across the country, especially in the Midlands, and support the global transition toward cleaner energy.<\/p>\n<p>\u201cIt also demonstrates how UK Export Finance can help businesses grow, export, and boost economic growth.\u201d<\/p>\n<h3>The solar power plants will dramatically increase Turkey\u2019s renewable supply<\/h3>\n<p>Renewable energy <a href=\"https:\/\/www.mfa.gov.tr\/turkeys-energy-strategy.en.mfa#:~:text=The%20share%20of%20renewables%20in%20T%C3%BCrkiye%E2%80%99s%20installed%20power%20reached%20to%2054%25%20at%20the%20end%20of%202022.\" target=\"_blank\" rel=\"noopener\">represents 54% of the total installed electricity capacity in Turkey<\/a>. The new solar power plants will increase the availability of renewable energy in Turkey and deliver on UKEF\u2019s commitment to supporting the global transition towards low-carbon economies.<\/p>\n<p>Standard Chartered acted as Structuring Bank, Green Loan Coordinator, Lead Arranger, and Lender. The financing is guaranteed by a 100% UKEF guarantee, with over \u20ac122m reinsured by KUKE, Poland\u2019s export credit agency.<\/p>\n<p>\u201cWe are proud to be a driving force behind Turkey\u2019s transition to clean energy. By investing in renewable energy projects, we\u2019re not only providing sustainable energy solutions but also creating jobs and contributing to T\u00fcrkiye\u2019s energy independence using renewable energy sources,\u201d explained Dr Murtaza Ata, CEO of Kalyon Enerji.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The UK and Poland have guaranteed a \u20ac249 million loan enabling the construction of Turkey\u2019s second-largest solar power plants to date.<\/p>\n","protected":false},"author":22,"featured_media":50020,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[24204],"tags":[628,730],"acf":[],"yoast_head":"\n<title>UK and Poland collaborate on \u20ac249m solar project for power plants<\/title>\n<meta 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