One of the biggest reasons of Turkey’s current account deficit is importation of its energy needs. This is especially true for fossil fuels imported to our country which has a big impact in this regard. Because of these reasons, renewable energy is a very important resource for our countries economy. As part of Ortadogu Group’s corporate strategy of investing in all renewable resources, Ortadogu established “Ortadoğu Yenilenebilir Enerji Üretim San. ve Tic. A.Ş.” to invest in field of solar energy power plants.

With the recent legislation change, the EMRA (EPDK) allowed energy licensing of solar power projects but to start things slow, put a limit of 600 MW for the year 2013. Our company is currently gathering the solar data required for the application of energy production license at two separate locations with an estimated total capacity of 60 MW.

The solar data measurements are being measured since November 2012. After successful application for the energy production license with the required solar measurements, there will be a tender process for which we are planning to be readily available. After gathering the required license, we shall start our investments as soon as possible.