Şişecam Targets EUR 228 Million Investment

Şişecam Eyes EUR 228 Million Investment Şişecam, in response to rising global demand for solar glass, has decided to increase the capacity of its frosted glass furnace and production line investments scheduled to come online in Mersin in July. Şişecam will raise the capacity of its second frosted glass furnace, which will also produce solar glass in Mersin, from 180,000 tons annually to 244,000 tons per year, while increasing its solar glass production line capacity from 20 million square metres to 26.6 million square metres annually. This move, which will support Şişecam's leading position in Turkey's solar glass sector, will also strengthen its robust standing in the global glass industry. [caption id="attachment_147601" align="aligncenter"] Prof. Dr. Ahmet Kırman[/caption]

Şişecam Board Chairman and Authorized Member Prof. Dr. Ahmet Kırman commented on the decision that will raise total investment to EUR 228 million:

"Despite rising energy costs, declining solar power generation costs and increasing global sustainability commitments are creating new opportunities in the frosted glass and solar glass sectors. As a result of this decision, which aligns with our sustainability-focused value-added production strategy, Şişecam's installed frosted glass production capacity will reach 324,000 tons annually by the end of 2024. With this investment that will multiply the power of the glass age, we are once again reaffirming our sustainability commitment."  

Prof. Dr. Ahmet Kırman noted that global solar energy capacity rose from 40 GW in 2010 to 710 GW in 2020, and continued:

"With the support of sector-enabling trends, global installed solar energy capacity is expected to quadruple by 2030, rising above 3,000 GW. For example, the United States, which currently meets 3 percent of its energy needs from solar power, aims to increase this share to 40 percent by 2030 and to 45 percent by 2050. This transition is accelerating industrial players' initiatives to shift their energy consumption to green energy sources and limit their carbon footprints. An increasing number of companies are placing renewable energy investments for self-consumption on their agendas each day. We believe this decision, which is the outcome of Şişecam's sustainability-focused value-added production strategy, will support the development of Turkey's rapidly growing solar energy sector."