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It has been decided by the Board of Directors meeting held today, on the installation of the Waste Heat Recovery (WHR) Plant at Eskişehir Plant, which will contribute to the reduction of our carbon footprint in line with our targets of achieving net-zero emissions in greenhouse gas emissions by 2050;
- The installation of the WHR plant with an installed capacity of approximately 5,500 kWp DC and
- Make necessary application for an investment incentive related to the investment.
The investment is planned to start in the third quarter of 2023 and the investment process is expected to be completed by the end of 2024.
With the commissioning of the investment, the electricity to be generated from waste heat recovery is expected to meet 25% of the total annual electricity consumption of Eskişehir Plant. Thus, it is foreseen that the investment will provide Çimsa operational efficiency gains and contribute to sustainability targets by reducing carbon emissions.
The executive summary of the valuation report prepared by Reform Bağımsız Denetim Anonim Şirketi within the scope of Article 9 of the Corporate Governance Communiqué (II.17.1) regarding the investment to be made is attached hereto. In the said report, it has been determined and evaluated that the transaction price, rights and obligations associated with this investment will provide a positive increase in the operational cash flows and shareholders' equity of our Company as a whole.
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