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We have surpassed the psychological threshold of 10,000 megawatts in solar energy

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As of the end of June, Turkey’s total installed capacity reached 104,800 Megawatts (MW), with solar energy accounting for 10,195 MW. Turkey is among the fastest-growing countries in the solar energy sector in Europe, with solar energy holding a 10% share in the country’s installed capacity. The goal is to increase the solar energy capacity to 52,300 MW by the year 2035.

Mehmet Doğan, a board member of the Energy Industrialists and Business People Association (ENSİA) and the General Manager of HSA Energy, highlighted the importance of establishing licensed solar power plants (GES) in areas far from city centers and lands that have completely lost their agricultural characteristics. He emphasized that energy production and food security are not alternatives to each other.

Doğan pointed out that rooftop solar installations in Turkey are currently well below their potential. He said, “As of June, our country has surpassed the psychological threshold of 10,000 MW in solar energy, and we should applaud this significant achievement. However, we must acknowledge that we still have a long way to go. The potential electricity production from rooftop solar installations alone is at the level of 55,000 MW, which is more than five times the capacity of all the solar plants built so far. We have much untapped potential in our rooftops. Our priority should definitely be rooftop solar installations. All obstacles preventing citizens with the means and capacity from becoming energy producers should be removed. Licensed solar power plants, on the other hand, should be built in areas far from residential areas and lands that have completely lost their agricultural characteristics. It is disheartening to see many power plants built in forested areas and lands used for agriculture. Additionally, we must utilize solar energy in specially designed greenhouses to prevent water waste in agricultural production.”

Mehmet Doğan stressed that solar energy has the highest potential among renewable energy sources in Turkey. According to the National Action Plan, the target is to achieve a total installed capacity of 189,700 MW by 2035, with solar energy accounting for 52,900 MW.

He further stated, “In the next 12 years, investments in solar energy will be more than five times greater than what has been done until now. By 2030, 50% of global electricity demand will be met by renewable energy sources, with solar energy making the most significant contribution. The solar energy capacity will increase by approximately 280 GW annually until 2030, with an average annual growth rate of about 12%. Turkey is preparing for this significant shift in energy with increasing investments in wind energy in recent years. Among our members, there are very strong companies making investments in this field. The least efficient solar region in Turkey has a higher potential than the most efficient region in Germany. While we are just starting to surpass 10,000 MW in solar energy, Germany, with its less efficient solar resources, generates 70,000 MW, which is seven times more than us. In solar energy alone, our potential installed capacity is over 200,000 MW. If we fully utilize this potential, we can generate enough energy to power two Turkeys. Our priority in solar investments should always be rooftop solar installations. The more citizens we attract to become energy producers, the more we will reduce our dependency on foreign energy sources and boost our development.”

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Turbo Energy, to list its Artificial Intelligence-enabled solar battery technology on NASDAQ

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Today, Umbrella Solar Investment, S.A., USI, announced that its wholly owned subsidiary, Turbo Energy, S.A. (Turbo Energy) has applied to the SEC to file a Form F-1 prospectus for a securities offering to certain institutional investors in the United States and other countries ahead of the listing of its shares through ADRs on the National Association of Securities Dealers Automated Quotations (NASDAQ) stock market in New York (USA). The SEC’s approval of the prospectus is expected to be granted in the coming weeks and the market will be informed in accordingly.

Turbo Energy, with registered offices in Valencia, designs, manufactures and markets innovative products for residential, commercial and industrial self-consumption solar PV installations featuring advanced technological solutions.By listing its shares on the main international stock market for tech firms, Turbo Energy’s goal is to implement a growth strategy based on accelerating its product roadmap and extending the features of its Artificial Intelligence algorithmic platform.Turbo Energy is committed to combating climate change by creating value-added solar products with technologies that bring together three areas of major stock market investment: solar energy, lithium-ion battery power storage and AI systems.

In the words of Enrique Selva, CEO of Turbo Energy: “Through Turbo Energy’s NASDAQ listing, we intend to drive the company’s strategic growth to capitalise on the growing market for artificial intelligence applied to renewable energy. We are backed by a 10-year track record of innovation, enabling us to deploy our flagship product SunBox, an all-in- one solar system with strong uptake in the residential, commercial and industrial markets”.

Based on the preliminary non-binding range included in the F-1 prospectus, the offering is envisaged to have a minimum pre-money valuation of USD 125 million and will be open to all types of institutional investors. The formula adopted is through trading of ADRs representing Turbo Energy shares with the support of CITIBANK as custodian bank. A minimum of USD 5 million is expected to be raised.

About Umbrella Solar Investment:

Umbrella Solar Investment leverages the full business potentials of the solar PV value chain, generating renewable electricity through the company IM2 Energía Solar, deploying electric vehicle charging points through IM2 e-mobility and developing cutting-edge equipment for residential solar self-consumption through Turbo Energy.

Umbrella provides answers to the huge challenges posed to society by the serious issues of climate crisis, energy poverty and the transition to a sustainable energy model.

LEGAL NOTICE: A registration statement relating to these Turbo Energy securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these Turbo Energy securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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Hitachi ABB Power Grids tracks Dublin’s data center surge via grid connections

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One gigawatt substation will support the city’s growing number of data centers to enable the new norm of remote working through efficient connections to electrical infrastructure

Hitachi ABB Power Grids has delivered a fully integrated, high-voltage substation close to Dublin’s digital business hub at Castlebagot, fast-tracking the standard two and a half year execution time to just 18 months, to keep the city’s growing number of large, increasingly important data centers running smoothly 24/7.

The project was commissioned by Ireland’s state-owned Electricity Supply Board (ESB) to meet Dublin’s recent, unprecedented upsurge in demand for electricity, due to the proliferation of new data centers. The project is the largest privately contracted substation development in Ireland to date. To ensure reliable supply to this booming industry, Hitachi ABB Power Grids has delivered a 220 kilovolt (kV)/110 kV substation with gas-insulated switchgear, including the protection and control SCADA system enabling an advanced power system management and monitoring of equipment status while in service. The gas insulated switchgear is a compact technology designed to minimize the substation’s foot-print, enabling space saving of up to 70 percent compared to air-insulated switchgear.

Dublin hosts some of the most important high-tech firms in Europe, in addition to a wide range of thriving tech start-up and colocation services. Planners are currently processing applications for additional, major data centers that will more than double the city’s electricity consumption in the years ahead. With its state-of-the art efficient grid solutions, Hitachi ABB Power Grids is helping to optimize power consumption while maintaining quality of supply.

“We specialize in the prompt delivery of reliable, high-voltage grid connections that respond to the ever growing use of advanced solutions continuing to support people through the challenging times of the current global pandemic.Efficient connections to electrical infrastructure are more critical than ever,” says Niklas Persson, Managing Director of Grid Integration business unit at Hitachi ABB Power Grids. “We are proud to enable the transition to the new norm of connecting people, when disruption to working patterns has increased the demand for remote and digital services, by meeting the need for a stable power supply.”

The energization of the Castlebagot substation in such a short time is even more remarkable given the current demanding situation. Hitachi ABB Power Grids and ESB were able to overcome this challenge due to their digital capabilities which made it possible to energize the substation safely and sustainably, while ensuring business continuity.
Substations are the building blocks for any power grid and facilitate the effective integration of power from conventional and renewable generation sources, to efficiently transmit and distribute it to consumption centers.

Hitachi ABB Power Grids is fast becoming the leading supplier of grid and power quality solutions for data center grid connections for both utilities and data center owners worldwide and is helping cities around the world to meet the extensive power demands of large data center projects. For this project, early collaboration with ESB ensured a design that fulfilled the utility’s availability and reliability requirements. It enabled fast project execution, leveraging our vast knowledge of utility grid codes and connection practices in different countries.

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IPO Paves the Way for GoodWe’s Future Growth Strategy

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On Friday, GoodWe announced its initial public offering of its common stock and is now officially listed as a public limited company. The shares began trading on the Shanghai Stock Market on 04 September under stock code 688390.

At 8 AM on Friday morning, the famous gong in the Grand Hall of the Shanghai Stock Exchange sounded in honor of the Initial Public Offering of GoodWe. The ceremony was attended by leading figures of the solar industry and coincided with GoodWe’s 10th anniversary – 10 years marked by relentless hard work, continuous innovation and international success. The company executives look back on the 10-year success story and set their sights on future goals, enshrined in the company’s Corporate Growth Strategy.

“GoodWe has achieved consistent, continuous and sustainable growth for several years and has proven, year after year, that its financial success is a result of its step-by-step approach of strategic growth and consolidation. We have been working relentlessly for over ten years and have reached new frontiers. The IPO marks the beginning of a new chapter” said CEO Daniel Huang.

“GoodWe is a stable, bankable and sustainable company with a sound financial management strategy. We have achieved good results in a relatively short time and we are confident about the company’s future growth trajectory. At GoodWe we don’t wonder what the future holds, we shape the future with our actions and innovations” added Rong Shen, VP of International Sales. 

Milestones & Growth in 2019/2020

2020

  • Stock Listed – Shanghai Stock Exchange (“SHA688390”)
  • Ranked Global No. 1 Hybrid Inverter Supplier by Wood Mackenzie
  • 5 consecutive years of TÜV Rheinland All Quality Matters Award
  • First non-European inverter manufacturer to obtain the VDE-AR-N 4110-2018 certificate from TÜV Rheinland
  • Awarded “Top Brand PV Netherlands & Australia 2020” by EuPD Research

2019

  • New Global Headquarter in Suzhou Hi-Tech New District
  • GoodWe ranked Global Top 7 PV Inverter Brand by Wood Mackenzie and BloombergNEF, and ranked Global Top 4 PV String Inverter Brand by IHS Markit
  • Awarded “Top Brand PV Australia 2019” by EuPD Research

Future Business Strategy

Following its IPO, GoodWe’s Board of Executive Directors outlined the pillars of its Corporate Growth Strategy.

  • Leader in Storage

GoodWe is already the undisputed leader in the storage segment with 15% global market share and is currently ranked as the World’s No.1 residential hybrid inverter supplier by Wood Mackenzie. GoodWe will continue to expand its storage portfolio to include the latest innovations and continue leading the storage revolution. In 2020, GoodWe launched its SMART HOME solution, designed to give users maximum choice and flexibility. Further improvements in inverter technology and battery compatibility are expected in 2021 and 2022. GoodWe will continue to lead research efforts in SEMS energy applications to enable owners to benefit from timely automated energy choices based on real-time operating conditions and maximize use of clean energy. GoodWe will likewise lead research efforts aimed at implementing energy trading technologies enabling shared energy communities and zero-carbon future.

  • Pioneer of Global-Local Strategies

GoodWe has been operating continuously in over 80 countries and currently has offices and branches in 16 countries and also operates registered subsidiaries in the largest markets in the solar PV industry, including Germany, Australia, Korea and UK, with plans to expand this list to include the US and Japan, among many other countries. GoodWe maintains a strong local presence in every market with a robust network of sales, after-sales, technical and managerial staff employed locally. This enables the company to pay great attention to detail, not only on global market trends but also on local developments, policies and requirements. Following its IPO, the company has already implemented plans to expand its global reach with office premises in every major market while also increasing its localized presence to guarantee efficiency and quality of service worldwide. GoodWe has invested 160 million RMB in a new production line in its Guangde plant to match the growing demand from international markets and cater to the needs of each individual market in which the company operates.

  • Strength in Innovation & Development

GoodWe’s innovation is the result of continuous and persistent efforts from its 200+ R&D team. Over the course of the next few years GoodWe will increase funds directed at R&D operations and will expand its team and continue to provide the market with groundbreaking technologies aimed at improving energy efficiency and component resilience, as well as contributing to research in industrial automation and artificial intelligence. Over 200 million RMB will be invested in a brand new Smart Energy R&D building that will focus on developing cutting-edge technology.

  • Strength in Utility

The IPO marks GoodWe’s transition from stable, bankable company to a global multinational backed by international investors and heralds a new era of unlimited opportunities for the company and stakeholders alike. This makes GoodWe a trusted partner for utility-scale projects, where financial readiness is a key component. On top of that, the new HT Series, with current capacity of 100-136 kW will see new versions released up to 250 kW from 2021. The HT inverter seamlessly incorporates different sets of technical strengths intended to achieve higher savings in the installation, enhance productivity and diversify monitoring options, taking safety to the maximum possible level in accordance with the most demanding national standards.

GoodWe is committed to contributing to the development of PV technology and its recent IPO is a key event that is going to accelerate that process.

GoodWe Global Headquarters

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