Turkey: Plans To Allocate $2 Billion To Support 15GW Solar Cell Production Capacity

Recently, President Recep Tayyip Erdogan of Türkiye announced at the High tech Incentive Plan (HIT-30) conference in Istanbul that Türkiye will launch an incentive plan with a scale of 30 billion dollars, focusing on attracting investment in advanced technology fields such as electric vehicles, battery production, semiconductor manufacturing and energy technology.

Among them, subsidies of up to $8000/MW will be provided for investment in solar cells, and an additional $1.7 billion will be allocated for the production of wind energy components to create a "domestic wind energy brand". Erdogan said, "We will provide $2.5 billion in subsidy support for solar cell facilities aimed at achieving a production capacity of 15GW, and we have allocated $1.7 billion for the manufacturing of key components for wind energy

The establishment of R&D centers of large technology companies in Türkiye is also part of the plan. Erdogan said: "We will bear half of the personnel costs of the new R&D centers set up in China by the world's top 1000 enterprises for five years, as the first step of the HIT-30 plan."

Erdogan said that the government's goal is to attract at least 20 billion dollars of private sector investment to Türkiye, which he believes will greatly promote the country's development process.