We previously announced that the drilling works for our Geothermal Power Plant investment owned by our 99% subsidiary Kocaer Enerji are ongoing, and the Environmental Impact Assessment (EIA) process has been initiated for the "Kocaer 1 Geothermal Power Plant" project, with a project value of TRY 2,621,875,000.
A power of approximately 7 MW has already been reached from the two wells drilled in our license area, and with this capacity the entire electricity need of Kocaer Çelik can be met.
The drilling activities continue within the license area, and the construction of a 24 MW geothermal power plant is planned with the additional wells to be drilled. With Kocaer Çelik's existing rooftop solar power plants and the 7MW capacity of the ''Kocaer 1 GPP'', our company's entire electricity needs will be met. On the other hand, approximately 80% of the total capacity to be obtained from the ''Kocaer 1 GPP'' is aimed to be sold within the scope of YEKDEM (Renewable Energy Resource Support Mechanism), which has a purchase guarantee in dollar terms for 15 years. Following the "Kocaer 1 GPP" project which is planned to be operative in 2026, our geothermal energy investments are planned to continue with the second and third phases.
It is announced to the public with respect.