YEO Technology Launches $40 Million Energy Storage Project: A New Milestone for Turkey via ESCO Model

YEO Technology announced that Solesco3 Renewable Energy Inc., in which its subsidiary CALL Energy Inc. holds a 70% stake and Inavitas Energy Inc. holds a 30% stake, has signed a new agreement with Saves Energy Group companies to implement two battery-based energy storage projects with a total capacity of 120 MWh. The total investment cost, including financing expenses, is estimated at approximately 40 million dollars.

A New Milestone for Turkey via ESCO Model

Under the agreement, investment financing, installation of battery-based energy storage systems, high-voltage transformer centers, and grid connection infrastructure will be provided on a turnkey basis. The facilities will be operated for five years before being transferred to the investors. These projects mark the first application of the Build-Operate-Transfer (ESCO) model in battery-based energy storage in Turkey.

Integration and Technological Infrastructure

The energy storage systems will be integrated into the Çamlıca Hydroelectric Power Plant under Saves Energy Group and used in a standalone energy storage facility in Kayseri. The battery systems will be produced by REAP Battery Technologies, while power conversion systems, energy management systems, and AI-based energy trading platforms will be supplied by Inavitas Energy. The target for commissioning is set for the first half of 2027.

Dr. Aslıhan Demir Note: Investments like this are crucial for enhancing the stability of Turkey’s renewable energy infrastructure. Particularly, adopting the ESCO model makes financing high-capital projects such as energy storage more accessible to domestic investors. However, operational planning is critical to mitigate risks of delays before 2027.