Turkey imposes dumping duties on solar panel imports

Reuters/Antara Photo Agency

Turkey plans to implement anti-dumping measures on solar panel imports from five countries to combat unfair competition, according to a local media report.

The countries are Vietnam, Malaysia, Thailand, Croatia and Jordan, state-run Anadolu Agency reported, citing the government’s official gazette.

The solar panel imports will be subject to a fee of $25 per sq m, Turkish trade ministry said.

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Anti-dumping measures are already imposed on China, one of the largest producers and exporters of solar panels.

Last month Turkey’s Progresiva Energy Investments struck a deal with China’s Harbin Electric International to build a $600 million electricity storage facility.

He said the initial phase, which will cost $375 million, is already underway, with $300 million secured from China through Habin Electric.

In December 2023, Turkey set up its first green venture capital fund to support its target of net zero by 2053.

The Industrial Development Bank of Turkey secured a $155 million loan from the World Bank for the Turkey Green Fund, which will provide green financing to businesses, promote investment in green technologies and diversify the financial sector.