Turkish steelmaker Kardemir plans to invest around TRY 3.96 bln (USD 80.7 mln) in solar power plants with a combined installed capacity of 92.5 MWe AC / 120.5 MWp DC across the company and its subsidiaries, according to a stock exchange filing.
The planned investments comprise an 85 MWe AC / 110.5 MWp DC solar power plant for Kardemir Karabuk Demir Celik, a 5 MWe AC / 6.5 MWp DC facility for Kardokmak Kardemir Dokum Makina and a 2.5 MWe AC / 3.5 MWp DC plant for Karcel Kardemir Celik.
Kardemir said site acquisition processes have been completed and connection call letters received. Planning, environmental impact assessment (EIA), zoning and technical studies have been initiated, with the plants scheduled to be commissioned by 2028.
The investments aim to reduce energy costs, increase renewable energy use and lower the company’s carbon footprint, in line with Turkey’s 2053 net-zero emissions target.
Karabuk Demir Celik (Kardemir) was established in 1938 as a state-owned company and Turkey’s first integrated steel producer. It was privatized in 1995 and produces billets, blooms, rebar, profiles and other steel products.
1 USD / 49 TRY