UK-based Hive Energy is looking to invest USD 4 bn to develop solar farms generating a combined 4 GW of power in Turkey, according to Turkish news agency Anadolu. The company submitted requests to Turkey’s Energy Market Regulatory Authority (EMRA) to construct 30 solar plants that would range between 11 MW to 230 MW in 19 Turkish cities. The preliminary paperwork for the projects is expected to be completed by the end of 1Q 2023.

The details: Hive Energy would partner with Turkish firms Çuhadar Energy and Viva Energy to develop some of the plants — with a total capacity of 3 GW — upon raising the funds needed, the news outlet notes. Details on who the company would work with to co-develop the farms generating the remaining 1 GW have not been disclosed.

Not Hive’s first rodeo: The company owns a 10.5 MW solar plant in Turkey which generates enough energy to power 1.3k homes in the country and offsets 10k tons of CO2 equivalent per year, according to their website.

A recent regulatory change may drive more investment Turkey’s way: The country’s EMRA enforced a regulation in November that streamlines the process for firms to secure a pre-license and grid capacity without enrolling in lengthy and costly auctions, with the stipulation that the firm co-locates battery storage assets. EMRA’s framework is expected to rake in investments between USD 20-25 bn for renewable energy projects.