Turkish Cemtas invests $1.4 million in a solar power plant

Turkish steelmaker Cemtas Celik Makina will build a solar power plant (SPP) to lower electricity costs and reduce carbon emissions. SteelOrbis reports about it.

The solar power plant will be built in the organizational industrial zone of Bursa. It is expected that the approximate amount of investment will amount to $1.4 million, the capacity of the facility will be 2 MW.

According to the company’s announcement, the company’s board of directors decided to start work on investing in renewable energy in April of this year, but the announcement was postponed.

It is planned that the SPP will start operating in the third quarter of 2023 and investments will begin after receiving the relevant permits.

As GMK Center reported earlier, ArcelorMittal announced the intention to invest $25 million in the American nuclear energy company Terra Power through its innovation fund XCarb. XCarb is designed to invest in innovation that has the potential to accelerate the global steel industry’s transition to zero emissions and support industry decarbonisation.

Also, a solar installation in Arkansas with a capacity of 250 MW will be built for US. Steel plants Commercial operation is planned at the end of 2024. The project will help the company to offer ecological solutions for customers.