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Kardemir Çelik has cleared an important threshold in securing a total of USD 18,275,000 in financing for two solar power plants, with installed capacities of 9.5 MW in Muş Bulanık and 23.50 MW in Van Özalp Dibekli. On 29 September 2026 the company received loan approval from SINOSURE, the state-owned export credit insurance company of the People’s Republic of China.
Two plants due online in about seven months
The Muş Bulanık and Van Özalp Dibekli solar projects, also listed in the company’s IPO prospectus, are planned to be completed and commissioned within around seven months. Once the two plants, totalling 33 MW, are operating, Kardemir Çelik aims to meet 10 percent of its total electricity consumption from these renewable plants.
The company, which exports to 110 countries, ranks as Türkiye’s 111th and the Aegean Region’s 9th largest industrial enterprise. Lowering both electricity costs and carbon emissions in energy-intensive iron and steel production is at the heart of its investment plans.
From 24.7 MW today to a 71.9 MW target
Kardemir Çelik currently has a total of 24.7 MW of renewable and recovery-based generation capacity, made up of a 19.7 MW wind farm, a 4 MW solar plant and an ORC system that recovers waste heat to generate 1 MW of electricity. The company plans to raise this capacity to 71.9 MW through solar, wind and waste heat recovery projects.
Besides the plants in Van and Muş, the plan includes the following projects:
- 1.60 MW of solar and 3.60 MW of wind in Hacı Ömerli, İzmir,
- a 9 MW hybrid solar plant as part of the Bozyaka wind project.
“We see the energy transition as an important part of our competitiveness”
Kardemir Çelik Board Member Özlem Bakırel noted that the company operates in an energy-intensive sector and said that reducing both the environmental impact of production and energy costs is among its priorities. “We believe energy efficiency, low-carbon production and the use of renewable energy will become increasingly decisive for the future of the iron and steel sector. Through our investments in environmentally friendly production technologies, renewable energy and energy recovery systems, we are strengthening our cost structure on the one hand and supporting our competitiveness in international markets on the other,” Bakırel said.
Sources
Kardemir Çelik press release, “Kardemir Çelik’in Van ve Muş’taki GES yatırımlarına Çin’den 18,3 milyon dolarlık kredi”, 01.10.2026.
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