Domestic Production Gets EUR 100 Million Financing Boost

Türkiye İş Bankası and TSKB have provided joint financing of EUR 100 million for Schmid Pekintaş's solar cell investment to be implemented under the HIT-30 Programme. With 10-year financing terms, the goal is to increase Türkiye's production capacity in renewable energy technologies.

İş Bankası and TSKB (Türkiye Sınai Kalkınma Bankası) have signed a partnership that will make a significant contribution to the development of domestic energy technologies. Financing of EUR 100 million has been provided on a 50-50 basis for Schmid Pekintaş's total 5 GW capacity solar cell investment planned under the Ministry of Industry and Technology's HIT-30 High Technology Incentive Programme. HIT-30 is an investment programme that offers comprehensive support and incentives for specially qualified projects in high-priority technology fields and develops customized solutions to meet needs, also encompassing green energy projects.
With the 10-year financing provided by the two banks, Schmid Pekintaş's investment, implemented in line with Türkiye's green transition objectives, is expected to accelerate the development of domestic capacity in cell production, one of the most important technologies in solar energy systems.

Cahit Çınar, Deputy General Manager of İş Bankası, commented on the matter: "Schmid Pekintaş, which has been contributing to Türkiye's renewable energy sector with the solar panels it has produced since 2013, will now also begin production of domestic cells used in solar panels, thereby providing both strong support to our energy supply security and contributing to our sustainable development and technological transformation objectives. In line with our approach of prioritizing the financing of projects that create added value in the real sector while taking environmental and economic sustainability into account, we are pleased to be part of this partnership. On this occasion, I congratulate all stakeholders involved, and wish the investment to bring benefits to our country and the sector."

Commenting on the agreement, Ozan Uyar, General Manager of TSKB, stated: "We believe that this high-technology investment to be implemented by Schmid Pekintaş will be one of the most strategic links that will accelerate Türkiye's green transition objectives. The solar cell investment under the HIT-30 Programme serves Türkiye's vision of becoming a global player in clean energy equipment manufacturing. We will continue to stand beside technology-focused projects of this kind that contribute to Türkiye's renewable energy goals, and to be long-term solution partners for our stakeholders."
Özhan Olcay, Chairman of the Board of Schmid Pekintaş, commented as follows: "As Schmid Pekintaş, in addition to having Europe's largest solar panel production capacity, we are proud to implement our TOPCon Plus (TOPCon+) investment, which is considered the most advanced level in cell technology.

Under the HIT-30 programme, with the appreciation of the Ministry of Industry and Technology of the Republic of Türkiye and the Presidency, we are implementing our 5 GW capacity solar panel cell production investment in Düzce Beyköy 2nd Organized Industrial Zone. With our total USD 500 million investment, the facility to be established will produce cells entirely with domestic and national technology and supply them to all sector stakeholders in Türkiye. We aim to begin our first domestic cell production in March 2026, and to export to the US market as well as Türkiye with the Made in Türkiye label. During this process, in recognition of the support provided to our investment by Türkiye's leading financial institutions Türkiye İş Bankası and TSKB, and their confidence shown to our company within the framework of long-term sustainable credit financing, we extend our gratitude on behalf of our group to them, their senior management, and all the valuable managers and team members who have contributed to this process."