UK Export Finance (UKEF) and KUKE, the export credit agencies from the UK and Poland respectively, have provided a guarantee for a €249 million loan arranged by Standard Chartered Bank

for Kalyon Enerji, a Turkish renewable energy investment firm. This financing will pave the way for the construction of Turkey's second-largest solar project to date, which is anticipated to bolster employment in the UK's renewable energy supply chain, especially in the Midlands region.

The project, which has a capacity of 390MWp, involves the establishment and operation of solar power plants across seven locations, collectively generating 390 MWp in the provinces of Bor-Nigde, Gaziantep, and Sanliurfa-Viransehir. Once completed, this initiative is expected to produce enough renewable energy to accommodate the electricity needs of over 65,000 homes in Turkey each year.

British company GE Vernova, through its subsidiary UK Grid Solutions Ltd, will be responsible for supplying and installing inverter stations, power plant controllers, and other essential equipment. This partnership is projected to have a direct positive impact on job creation within GE Vernova’s operations in the UK.