Turkish steel manufacturer Çemtaş Çelik Makine Sanayi ve Ticaret A.
Ş. (Çemtaş) announced the signing of an agreement worth $32.49 million excluding VAT, including land costs, with solar power equipment supplier CW Enerji for investment in a ground-mounted solar power plant (SPP) in Derik, Mardin. The project is scheduled to be operational by the end of the fourth quarter of 2026.
In its statement, the company noted that the investment is aimed at reducing energy costs and supporting sustainable production goals. According to the announcement, the company expects that together with the existing SPP facilities and these new investments, almost all current electricity consumption will be covered.
Investments in renewable energy sources are gaining momentum
It was stated that the onshore SPP investments to be carried out by Çemtaş are expected to make a significant contribution to meeting the company's electricity consumption from renewable sources energy.
As energy costs have risen in recent periods, industrial companies are increasingly turning to investments in solar energy, while similar investments are also accelerating in the steel sector.
Strategic move against energy costs
As energy costs account for a high share of steel production costs, investments in solar energy are considered strategically important for sector.
Cemtash's agreement with CW Enerji is also considered important
