​The United Kingdom and Poland have taken a significant step in supporting renewable energy exports by facilitating a €249 million loan to finance a major solar power project in Turkey. The financing, which has been arranged by Standard Chartered Bank, is backed by guarantees from UK Export Finance and Poland's export credit agency, KUKE. This substantial investment will enable the construction of what will become Turkey's second biggest solar power plant, with the capacity to generate enough electricity to power more than 65,000 households annually.

The solar project, spearheaded by Turkish energy company Kalyon Enerji, involves the development of solar plants across seven different sites located in the provinces of Gaziantep, Bor-Nigde, and Sanliurfa-Viransehir. Collectively, these sites will deliver a total generating capacity of 390 MWp. The project is a key component of Turkey's ongoing efforts to expand its renewable energy sector, which currently accounts for 54% of the country's total installed electricity capacity.

The deal is expected to have significant economic benefits for both the UK and Poland. In the UK, British engineering company GE Vernova, through its subsidiary company UK Grid Solutions Ltd, will be responsible for supplying and installing crucial components for the solar plants. This involvement is anticipated to support jobs at GE Vernova's site in Staffordshire, as well as throughout the wider UK supply chain, particularly in the Midlands. In Poland, the project will create opportunities for Polish companies to export security systems and steel components, thereby supporting jobs in the manufacturing and logistics sectors.

This collaboration highlights the critical role that export credit agencies play in enabling large-scale international infrastructure projects. It also aligns with the broader goals of both the UK and Poland to drive economic growth through green technology exports, contributing to the global transition toward low-carbon energy solutions.