Akfen Renewable Energy, moving ahead with the target of increasing the installed power to 1.000 MW in the next 3 years, wants to take active part mainly in storage projects. Akfen Renewable Energy General Manager Kayrıl Karabeyoğlu talked to Strategy about their targets for the industry and the steps to be taken.

AKFEN GROUP,

investing mainly to the renewable energy, gathered all companies under the umbrella of Akfen Renewable Energy in recent months. We talked with Kayrıl Karabeyoğlu, General Manager at Akfen Renewable Energy catching attention with the motto of “our energy is national, our target is 2020”, about the steps to be taken in the upcoming days. Telling that they currently have an installed power of 235 MW, Karabeyoğlu states that they plan to increase this figure to 1.000 MW in three years at the latest; they also plan to take part actively in the energy storage, a hot topic in recent times.

“We are working to support the energy storage system, which will ensure the energy security, with the solar and wind projects. We are working with the public and private sector for this issue. As Akfen, we began to hold meetings to establish a consortium and sign a good intention agreement. As Akfen Renewable Energy, we plan to be active in the renewable energy and 5.000 Mw storage projects bound for the future” adds Karabeyoğlu who answered the questions of Strategy:

Akfen gathered hydroelectric plants, wind energy and geothermal energy and the electric wholesale under the company of “Akfen Renewable Energy” with the restructuring of the renewable energy portfolio. Why did you need such an organization?

After the partnership between EBRD and IFC, we set growth targets in the renewable energy. In this direction, we built a more dynamic structure by gathering all our companies under one umbrella. We revised the organisation scheme not according to the types of power plants but as business develeopment, construction and operation. Thanks to this new restructuring, we are able to adapt know-how at hydroelectric power plant to the geothermal power plant and renewable energy systems. This organization will help us to reach more easily to 1000 MW which is the target set by the management and our partners.

Can you inform about the size, capacity and job opportunities created by this restructuring?

Our current installed power is 253 MW. With the ongoing investments, we’ll have an installed power of 572 MW by the end of the year 2019. We are employing some 200 persons. With our new investments, we’ll have around 300 employees. Additionally, there are companies which will offer service to us during investment and operation. Considering all these contributions, we can conclude that we’ll provide much more jobs.

OUR ANNUAL POWER GENERATION IS AROUND 700 GWH

Can you inform us about the ongoing investments, cost and finishing date of Akfen Renewable Energy?

The annual power generation of Akfen’s investments to this subsidiary is about 700 GWh. We have currently wind, solar and hydroelectric projects under construction course. We have four wind power plant projects with a capacity of 242 MW underway and these plants will be operational gradually until the end of the year 2019. In addition to our wind projects, we have also our 70 MW licensed solar power plant in which we began to invest. We have also an ongoing hydroelectric power plant project. We plan to make it operational in mid 2019. The total investment amount of these projects is close to 600 million dollars.

EBRD and IFC have partnerships with your company; will we see new foreign or local partners with you in the next days?

Akfen draws attention of both local and foreign investors both with its portfolio and institutional organization. If we see it necessary, we can think about having a partner to be adding value to us.

A NEW LITHIUM BATTERY DEVELOPED IN TURKEY

The energy storage is gaining more importance. Do you have any investment plan in this field; can you give informations about details?

As Akfen Renewable Energy, we follow closely the daily works in energy storage. The Renewable Energy General Directorate targets to create a storage capacity of 5.000 Mw in 8 years. In order to ensure the electricity security, I think that the Renewable General Directorate will include soon the energy storage in tender specifications. We are working to boost the energy storage system to be ensuring the energy security, with the solar and wind projects. We are cooperating with the state and private sector on this matter. As Akfen, we began to hold meetings to set up a consortium and to sign a good intention agreement. A new lithium-ion battery at world standards was developed.

We are very excited as the new battery developed is national and it will be used in several fields from the electric cars up to the defense. As Akfen Renewable Energy, we plan to be active in batteries, renewable energy projects and 5,000 MW storage projects bound for the future.

Our target is reach to an installed power of 1.000 MW in 3 years

There is a rapid supply in the renewable energy worldwide. In Turkey too, the importance of this energy grows. In this field, what is your targeted power and what is the planned time interval to reach this target?

As we stated, the importance of renewable energy grows both in the world and in Turkey. Our target is to rise our installed power of 253 MW to 572 MW by the end of 2019. 242 MW of this target will result from four wind power plant projects under construction. And we plan to finish our solar power plants in 2018 and 2019. Our target is to rise up to 1.000 MW installed power in 2,5-3 years.