Toshiba Corporation has set up an office in Istanbul in order to tap into Turkey’s energy market.
The TAET sales subsidiary is a strategic moved for the Tokyo-based company, which seeks to drive sales and reinforce its capital base by entering cooperation with local partners.
Toshiba has said it will position TAET as a sales and procurement base of power systems for Turkey and its neighbours, with sales targets of $400 million for the financial year 2017.
From this new Turkish base, Toshiba will offer a comprehensive line-up of fossil and geothermal power systems, where the company holds the world No. 1 market share. A growth trajectory calculated by the Turkish government anticipates that power generation capacity will rise from a current value of 57.072 MW to over 110,000 MW.