Hive Energy plans to build solar and storage projects in Turkiye

British renewable energy and circular economy company Hive Energy, is planning to attract $4 billion (TL 75.11 billion) direct investment for over 4 GW of proposed co-located solar and battery storage projects in 30 locations across Türkiye.

The company has applied for co-located solar and battery storage projects with capacities ranging from 11 to 230 MW in scale. The applications focus on 19 cities, from Gaziantep in the country’s southeast to Balıkesir in the west. The total capacity of the proposed solar-based battery projects is around 4 GW and average energy yield for solar projects is over 2,000 kWh/kW.

Once the grid capacities have been granted for pre-license, which is expected to be determined by the first quarter of 2023, the company and its partners will initiate discussions with international funds and financial institutions to attract foreign direct investment to Türkiye.

With the applications for SPP and RES reaching 160 GW in the current situation, the Turkish renewable energy market is predicted to be one of the fastest growing clean energy markets in Europe. According to the Turkish National Energy Plan 2022, published by the Ministry of Energy and Natural Resources, it is foreseen that the installed capacity of Solar Energy will increase to 52.9 GW by 2035.

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