Turkey’s Kontrolmatik, China’s Harbin Sign 1 GWh Energy Storage Deal

Turkish engineering company Kontrolmatik Enerji ve Muhendislik AS signed a deal with China’s Harbin Electric Co. Ltd. to build a 1 gigawatt-hour energy storage facility in western Turkey, according to an exchange filing. Kontrolmatik surged in Istanbul trading after the statement.

Kontrolmatik unit Progresiva Enerji Yatirimlari Ticaret AS inked an engineering, procurement and construction agreement with Harbin’s international unit in Ankara as the investor for the facility in Turkey’s Tekirdag province, according to a separate statement. No financial information on project size was provided. A $300 million loan for the project will be provided from China through Harbin International.