SMM Analysis: The first gigawatt-level energy storage power station project between Turkey and Chinese companies is expected to go into operation in 2027
SMM News, February 23: Recently, Turkey's Progresiva Energy Investment Company and China's power station equipment manufacturer Harbin Electric International Engineering Co., Ltd. (HEI) signed an agreement involving the construction and financing of power storage facilities and wind farms.
At a ceremony in Ankara, Turkish Vice President Jef Dait Yılmaz said the project will include Europe's largest energy storage facility with a total investment of $600 million. Yılmaz said that the initial phase of investment has reached $375 million, with approximately $300 million obtained from China through Harbin's company, and the remaining portion will be financed by Progresiva through equity financing.
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