Our subsidiary CALL Energy Inc., which operates in renewable energy investments, and our solution partner Inavitas Energy Inc. have formed Solesco3 Renewable Energy Inc. as a special purpose vehicle (SPV) for this project. Solesco3 is owned 70% by CALL Energy Inc. and 30% by Inavitas Energy Inc. Solesco3 has signed an agreement with companies within the Saves Energy Inc. Group, active in energy investments and electricity trading, for the implementation of two Battery Energy Storage System (BESS) projects with a total storage capacity of 120 MWh under Türkiye's first Build-Operate-Transfer (ESCO) model in the battery energy storage sector.
The total expected investment, including financing costs, is approximately USD 40 million, and the projects are expected to be commissioned in the first half of 2027.
The agreement covers project financing, turnkey engineering, procurement and construction of the Battery Energy Storage Systems (BESS), high-voltage substations and grid connection infrastructure, operation of the facilities for five years, and their transfer to the project owners at the end of the operating period.
The Battery Energy Storage Systems will be installed at the storage facility integrated with the Çamlıca Hydroelectric Power Plant owned by Çamlıca Hydroelectric Inc. and at the standalone energy storage facility owned by Kayseri Standalone Storage Inc., both of which are companies within the Saves Energy Inc. Group.
The battery energy storage systems will be manufactured by our subsidiary REAP Battery Technologies Inc., while the Power Conversion System (PCS), the Energy Management System (EMS), and the AI-powered energy trading platform will be supplied by our solution partner, Inavitas Energy Inc.
With this project, YEO Technology further strengthens its integrated energy infrastructure platform by bringing together investment development, project financing, engineering, equipment manufacturing, system integration, digital energy management, and long-term operational capabilities, while reinforcing its strategy of building long-term, predictable, and sustainable recurring revenues.