Global Investment Holdings actively pursues plans to bid on government tenders, YEKA, in solar, while also evaluating various opportunities abroad in the sector
Global Investment Holdings’ solar based installed capacity stands at 16.8 MWp, of which 10.8 MWp was fully commissioned at the end of 2019 and 6 MWp is under development and planned to be operational in 2022.
Global Investment Holdings plans to establish a significant solar power generation capacity within the next few years. GIH continues to develop additional projects in accordance with both licensed and unlicensed regulations in Turkey. In addition, GIH actively pursues plans to bid on government tenders, YEKA, in solar, while also evaluating various opportunities abroad in the sector. Thanks to its integrated business approach, GIH started to utilize its expertise and network gained in the ports business, to improve and expand its energy business line. GIH aims to expand the same business model in destinations where it operates ports, especially in the Caribbean. The Group is also planning to start solar farm investments in its biomass plant areas in parallel with the new hybrid generation regulation to improve generation volume as well as plant efficiencies.
Ra solar
Global Investment Holdings commissioned its first solar power plant, Ra Solar, with 10.8 MWp installed capacity in Mardin at end-2019. Ra Solar is subject to Renewable Energy Resources Support Mechanism starting from 2020, selling electricity at 13.3 dollar-cent/kWh for ten years. The solar plant is located in Mardin/ Artuklu, Turkey’s southeast region. Ra Solar is one of the largest solar based power plant investments in the region. The facility is expected to generate about 20 million kWh electricity per annum, meeting the electricity requirement of more than 7.5 thousand households.
Bar solar
Global Investment Holdings registered its first international power-generation investment with the establishment of Barsolar in Montenegro. Barsolar plans to develop a roof-top solar plant in Port of Adria, Bar.
Located on Montenegro’s western coast on the Adriatic Sea, Bar is situated at the foot of Rumija Mountain. From Bar, a railway line connects central and northern Montenegro; the rail line extends further to Belgrade, the capital of neighbouring Serbia. Ferry lines connect the city with Bari on the Italian coast. Global Ports Holding, the main subsidiary of GIH that invests in port terminals around the world, has been operating Port of Adria since 2012 through a concession agreement valid until 2043.
Barsolar is expected to generate about 6.9 million kWh electricity per annum, meeting the electricity requirement of more than 2.6 thousand households. The solar power plant will be constructed on warehouse roofs covering an area of over 66,000 square meters at the port. The total installed capacity of the plant is planned as 6 MWp.
The Montenegro government supports renewable power generation based on a feed-in tariff mechanism, which provides the highest rate for roof-top solar power plants. The price of EUR 0.12 per kWh is guaranteed through the feed-in tariff for 12 years.
The company targets to commence investment in Q2 2022 through rooftop instalments on the warehouses located at the Port of Bar and plans to start electricity generation in Q3 2022. Once operational, Barsolar will the investor and operator of the largest solar power plant in Montenegro.