Tosyali Holding to Invest $1 Billion in Solar Energy for Green Steel Production
Turkish steelmaker Tosyali Holding plans to invest nearly $1 billion in solar energy across eight provinces in Türkiye to power its green steel production, according to Chairman Fuat Tosyali, CE Report quotes Anadolu Agency
Speaking at the World Economic Forum in Davos, Switzerland, Tosyali highlighted the steel industry's heavy reliance on fossil fuels, with 70% of global production fueled by coal, significantly contributing to climate change.
The company, already among the world’s lowest carbon-emitting steel producers, aims to expand its renewable energy capacity from 235 megawatts to 1.2 gigawatts within 18 months. This investment will make Tosyali the only steelmaker capable of meeting its renewable energy needs through self-sufficiency.
Tosyali’s production emits just 600 kilograms of carbon dioxide per ton, compared to the industry average of 2.5 tons. The company plans to market its eco-friendly steel under the V-Green brand while exploring new investments and acquisitions in Europe, potentially reaching $500 million.
