The solar panel industry in Turkey and its “global players”
Turkey is quickly becoming a major player in the global solar panel industry. The country is geographically well-suited for solar energy production, with an abundance of sunshine throughout the year. This has allowed for the rapid growth of the solar panel industry in Turkey, which is now attracting the attention of some of the biggest global players in the field.
The growth of the solar panel industry in Turkey
The Turkish government has been working to incentivize the growth of the solar panel industry in the country. In 2017, the government introduced a feed-in tariff system that offers guaranteed prices for solar energy. This has encouraged both domestic and foreign investment in the industry, and has helped to create a thriving solar panel manufacturing sector in the country.
According to data from the Turkish Solar Energy Industry Association, the total installed capacity of solar power in Turkey reached 6.4 gigawatts (GW) in 2020. This is a significant increase from just 35 megawatts (MW) in 2012, and the growth is expected to continue in the coming years.
Global players in the Turkish solar panel industry
As the solar panel industry in Turkey continues to grow, it is attracting the attention of some of the biggest global players in the field. Companies such as Hanwha Q Cells, Jinko Solar, and First Solar are all investing in the country, either by establishing manufacturing facilities or by partnering with Turkish companies.
One of the largest players in the Turkish solar panel industry is Hanwha Q Cells. The South Korean company established a manufacturing facility in Turkey in 2018, which has the capacity to produce up to 1.3 GW of solar panels per year. The facility is located in Ankara and employs around 500 people.
Jinko Solar, a Chinese company, has also been investing in the Turkish solar panel industry. In 2019, the company signed an agreement with Turkish renewable energy company Akfen Renewables to establish a manufacturing facility in the country. The facility is expected to have a production capacity of 1 GW per year.
First Solar, a US-based company, has been operating in the Turkish solar panel industry since 2017. The company has partnered with Turkish solar panel manufacturer Zorlu Energy to build a 100 MW solar power plant in the city of Konya.
The growth of the Turkish solar panel industry has not only attracted the attention of global players, but it has also created opportunities for domestic companies to expand their operations. Companies such as EkoRE, Enerjisa, and Güriş have all been investing in the industry and are now among the leading players in the Turkish market.
Conclusion
In conclusion, the real estate market in Istanbul is thriving, driven by a strong economy, increasing foreign investment, and a growing population. Prices are rising, particularly in the luxury sector, and demand remains high across the city. With its rich history, cultural heritage, and economic opportunities, Istanbul is an attractive destination for buyers and investors, and is expected to continue to be a major player in the global real estate market for years to come.