Aras Marine and YEO established the joint venture Marinergy for floating offshore solar power plant (SPP) projects, which develop as a new sustainable and eco-friendly energy generation method across the world.
Aras Marine and YEO have taken action due to the existing potential and lack in the market. Both companies will operate through their new joint venture Marinergy in the floating offshore SPP field in Turkey and region countries.
Established by Aras Marine and YEO with 50% partnership, Marinergy aims to kick off floating offshore SPP projects this year in Turkey and to get into the foreign markets in the upcoming years, according to the statement from the parties.
The floating offshore SPP sector is expected to grow by 22% between 2019-2024. The installed power of floating offshore SPP is estimated to reach 2.5 GW by 2024 in Turkey.