In accordance with Solar Power Plant Project Development and Turnkey EPC contract we signed with Hacı İsmail KURTUL and Kurteks Tekstil Enerji Tic. ve San. A.Ş. on 29.06.2020, the land development, technical review and preliminary project studies of the Castello SPP (Castello Solar Power Plant) Project with an installed power of 53.1 MWp located in Agrigento, Sicily, Italy have been completed and official application for licensing has been made to Italian High Voltage Network Operator Terna by Italy Office of Margün Enerji Üretim San ve Tic. A.Ş. on 07.07.2021.

Our application has been approved by Terna, Italian High Voltage Network Operator. As per the applicable regulation, 30% of the connection fee has been paid to Terna and our Solar Power Plant with an installed power of 53.1 MWp has obtained STMG approval (the network connection right). The project pre-license has been obtained. Thus, our project has reached to 30% completion level and moved to the next stages including EIA (Environmental Impact Assessment), zoning and construction permits. After the completion of these processes, the installation of the power plant will begin. The Project is expected to generate EUR 8 million of EBITDA, annually.

In addition, project development studies for our other ongoing contracts, potential new customers and Margün Enerji Üretim San. ve Tic. A.Ş. as our own company are carried out by our Italy Office. 

We are pleased to make this public announcement with all due respect.