Considering the fact that Turkey’s importing 71% of its energy needs and spending more than 70% of its annual Gross Domestic Product in exchange for the imported energy, nevertheless, using only 9% of its renewable energy potential, Altay has shown interest in renewable energy projects. Having closely followed the local energy market, it has concentrated its efforts on providing new energy technologies and solutions such as innovative solar energy products, hydroelectric power plants, wind energy, rock gas energy and biological energy to the use of local stakeholders.
In this scope, Zen Energy Inc., which was established to invest in renewable energy resources, has become a partner. Zen Energy Inc. was found in 2013 with the aim to invest in a broader sense to renewable energy; nonetheless, it has initially concentrated on solar energy projects specially in the unlicensed sector, ground mounted projects.
Zen Energy Inc., across the solar energy potential of Turkey operates through subsidiary companies in order to make investments into solar power plants in locations licensed and unlicensed.
Having started the development of projects in 2014, realized the initial project in 2015, have invested in the completion of the remaining five projects during 2017-2018. As of the first quarter of 2018, Zen Energy Inc. owns 50% of 48.3 Mwp of projects in 6 different locations together with 12 subsidiaries.
BURDUR (8,3 Mwp)
Localized in Burdur province, Yeşilova county, Yarışlı village approximately 160 acres land which is fully owned by ZEN Energy, providing the electricity of 3700 households, preventing 2800 ton carbon emission per year with the electricity production of annual 14,7 Mil KWh with the 32000 PV panels. The operation and maintenance has been undertaken by the Korean Hanwha Q cells, which is also 50% partner of this project investment.
40Mwp five projects (Kırıkkale, Isparta,Kütahya, Uşak, Eskişehir) which are undertaken by the 11 subsidiaries of Zen Energy, has been underconstruction by Talesun; the Chinese PV Panel manufacturer and EPC. Talesun is going to be 50% of Zen SPV’s partner upon COD.
KIRIKKKALE (4,8 Mwp)
The project is in Kırıkkale province, Karakeçili district and the land of 127 acres is owned by Zen Energy. The construction of the project has been completed, Başkent EDAŞ pre-acceptance for the project is obtained and it is currently in TEDAŞ approval process.
The project is in Isparta province, Merkez district, Gelincik village. The land of 120 acres is rented for 31 years. 2/3 of the project was completed as of December 2017, and the right of construction has been obtained. The project is expected to be completed by the end of 2018.
The project is in Kütahya province, Simav district and the land of 211 acres is owned by Zen Energy. The investment started in mid-September 2017 and is now completed. OEDAŞ pre-acceptance for the project is obtained and it is currently under TEDAŞ approval process.
The project is in Uşak province, Central district, Göğem village and the land of 219 acres is owned by Zen Energy. The construction is aimed to commence in April 2018 and expected to be completed before the end of 2018.
ESKİŞEHİR (10,1 Mwp)
The project is in Eskişehir province, Odunpazarı district and the land of 168 acres is owned by Zen Energy. The project is currently in zone planning process and the construction is aimed to commence in the second quarter of 2018 and expected to be completed by the end of 2018.