Hive Energy, a London-based developer of solar PV projects, has opened a new regional headquarters in Ankara, Turkey, as the company aims to expand strategically into southeastern Europe and the neighboring regions.
The opening of the HQ will enable Hive Energy to achieve its aim of installing 50 MW of solar PV capacity in Turkey over the next few years, tapping into the countrys "relatively undeveloped solar PV market", said Hive Energy CEO Files Redpath.
"Turkey represents the next exciting opportunity for solar in Europe," Redpath said. "To date there has been very limited solar PV development and investment in the country. Turkey has a high performing economy and although current electricity consumption per capita is 40% lower than the OECD average, this demand is forecast to develop significantly in the coming years."
Hive Energy has appointed Middle East Technical University graduate Tolga Metin as general manager of the regional office, which is located near to Ankaras Energy Ministry and the Energy Market Regulatory Authority Headquarters (TEDAS).
Support for renewable energy development in Turkey has recently been given solid backing by the government, which has increased its clean energy target for 2023 to 3 GW of solar PV under the National Renewable Energy Action Plan. To help achieve this, projects in Turkeys unlicensed PV segment which covers installations below 1 MW are entitled to a fixed 10-year PPA of $0.133/kWh.
Further, the European Bank for Reconstruction and Development (EBRD) is poised to offer 500 million in funding to support Turkeys renewable energy industry.