Türkiye's Progresiva Energy Investments on Wednesday signed an agreement with Chinese electric power plant equipment manufacturer Harbin Electric International (HEI) for the building and financing of an electricity storage facility and wind farm.The project that will encompass what will be Europe's largest energy storage facility entails a total investment of $600 million. Yılmaz said $375 million is already in the pipeline for the initial phase. Some $300 million will be secured from China through Harbin, with the remainder being financed by Progresiva through its equity.Sami Arslanhan, chair of the board of Kontrolmatik, Progresiva's main shareholder, said the investment would be implemented in two phases.The investment size for the 1,000 MWh storage facility will range from $350 million to $375 million, while the investment size for the 250 megawatts (MW) wind farm will be approximately $250 million.The financial advisory for the agreement was conducted by Istanbul-based OMG Capi
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