An application has been submitted for the installation and operation of Turkey’s first electricity storage facility. The investment cost of the project is estimated at about $250 million, Report informs referring to Anadolu Agency.

Progresiva Enerji Yatirimlari Ticaret AS has submitted the application.

The 1,000 megawatt-hour storage facility to be built in Silivri will be the first of its kind in the country.

Electricity storage allows accumulating excess electricity received during the day, in particular from renewable sources. The stored electricity helps meet the needs in the event of a reduction in production or an increase in demand.

Head of the Energy Market Regulatory Authority Mustafa Yilmaz said that companies that have licenses or companies that want to get a license won’t face problems if they want to add storage facilities to their projects.