100 Million Euro Solar Energy Investment from İş Bankası and TSKB

Important Solar Energy Financing by İş Bankası and TSKB

İş Bankası and TSKB (Turkish Industrial Development Bank) have signed an important collaboration to strengthen domestic energy technologies. Schmid Pekintaş provided a financing of 100 million Euros for a total capacity of 5 GW solar cell investment planned under the HIT-30 High Technology Incentive Program of the Ministry of Industry and Technology, sharing the investment equally at 50-50.

HIT-30 Program and Solar Energy Investments

HIT-30 is an investment program that offers special lectures in high-priority technology areas, including comprehensive support and incentives; this program also encompasses green energy projects. The financing aims to increase Turkey's domestic production capacity in the renewable energy sector. This investment is intended to contribute to the development of domestic capacity in the production of cells, which are critical components of solar energy systems.

A Solar Cell Production Facility to be Established in Düzce

According to the banks' announcement, Schmid Pekintaş will establish a 5 GW capacity solar cell production facility in Düzce Beyköy 2nd Organized Industrial Zone with a total investment of 500 million dollars. The cells to be produced will be entirely manufactured using domestic and national technology, with the first production process planned to start in March 2026.

Advanced Technology in the Sector: TOPCon Plus

The investment will utilize the TOPCon Plus (TOPCon+) technology, which is considered advanced in cell technology. The produced cells are planned to be directed to international markets, including the USA, as well as the Turkish market.

Significant Evaluations

Cahit Çınar, Deputy General Manager of İş Bankası, stated, “While Schmid Pekintaş contributes to renewable energy in our country with solar panels, the local cell production will support our energy supply security and sustainable development goals.”

Ozan Uyar, General Manager of TSKB, expressed, “We believe that this high-tech investment will be one of the strategic elements that will accelerate our country’s green transformation goals.”

Özhan Olcay, Chairman of the Board of Schmid Pekintaş, remarked, “We are proud to have the largest solar panel production capacity in Europe, as well as to realize our TOPCon Plus investment.”