about us | newsletter | contact | archive | members area
Bogdan Nitulescu, Tremend
Cryptocurrencies volatility is a big problem»
  News:      POLITICS   |   ECONOMICS   |   ENERGY   |   INVESTMENTS   |   APPOINTMENTS   |   INFRASTRUCTURE   |   GREEN   |   REAL ESTATE   |   AGRIBUSINESS   |   DRIVING   |   CITY LIFE   |   EVENTS   |

GarantiBank refinances one of the largest solar park projects in Romania

GarantiBank, one of the most innovative and dynamic banks on the local market and owned by Turkiye Garanti Bankasi-in top 20 strongest banks in the world according to Bloomberg, granted a refinancing amounting to EUR 10.35 million to Tinmar, one of the most important private power suppliers in Romania, for a 10 MW photovoltaic power plant in Bucsani, Giurgiu. This project is part of a 18.5 MW solar park - one of the largest in Roma

2013-12-05 14:36:21

The loan refinances 70 percent of the total EUR 15 million worth investment and it was granted for close to 10 years.

"In the first three quarters of 2013, we have noticed an increased appetite for loans in the corporate segment. GarantiBank is very active in this area, including short & long term lending, thus we have had positive results from the corporate line of business. In respective to the renewable energy sector in Romania, we are very determined in building long term relationships. In the first nine months of 2013, we offered lending exceeding EUR 50 million to corporate customers for green energy projects", stated Cagri Memisoglu, Deputy General Manager GarantiBank.

The project is developed in Giurgiu county, Bucsani village on a surface of 24 ha. The installed capacity of the photovoltaic power plant is 10 MWp and consists in 41,624 photovoltaic panels, thus being one of the largest functional solar parks in Romania.

"When Romania signed the European 2020 protocol, Tinmar Ind, as one of Romania's biggest suppliers, faced an uncertainty in relation to the pricing and forecasting tools in relation to its supplying business.

However, we decided to analyze and see these changes as an opportunity for Tinmar to become vertically integrated and we have put our best efforts into the solar segment. The business environment created on this segment, its very accurate production forecast and the weather optimal conditions in Romania made this segment to become one of our primary investment focus. Currently we have in our portofolio several photovoltaic parks, with an installed power of 50 MWP and we are looking to make more acquisitions", stated Adrian Pavelescu, Director of Renewable Energy Division within Tinmar Group.

GarantiBank Romania is part of the financial banking Group Garanti Romania, which reunites Garanti Leasing (the brand under which Motoractive IFN SA operates), Garanti Consumer Finance (the brand under which Ralfi IFN SA operates) and Garanti Mortgage (the brand under which Domenia Credit IFN SA operates). GarantiBank is a universal bank owned by Turkiye Garanti Bankasi A.S. (TGB), the most profitable and the second largest private bank in Turkey, in terms of assets.



COMMENTS
'.$nr_comm.' comment:
'; } else { echo 'There are '.$nr_comm.' comments:
'; } while ($row = mysqli_fetch_array($result, MYSQLI_ASSOC)) { echo '
'.$row['nume'].": on ".$row['data']."
"; //echo str_replace('\n','
',$row['comentariu']); echo nl2br($row['comentariu']); echo '
'; } ?>

0 Comments  |  6895 Views
Daily Info
Smart city is not a fad, it's a necessity

In June 2018, the ranking of the most "smart" cities in the world was published. In other words, the most advanced cities in terms of human capital, social cohesion, the econo...

Ondrej Safar, CEZ Group: "Romania can become a hub for international smart solutions providers"

"We are already in the digital age, so the upward trend of implementing smart solutions is inevitable in all areas," he tells The Diplomat-Bucharest. "Especially in terms of u...

Telekom Romania, a strong supporter of Smart City development in Romania

Just like many other countries in the world Romania is now facing an unprecedented growth of the urban population, which can be both beneficial and detrimental for the society...

In the industrial era, the fight was for finite material resources. Not anymore

Now organizations fight and develop themselves for and around their talent. In a nutshell, getting ahead in today's business world is all about attracting and inspiring an e...

Richard Sareczky, Mol Limo: "We look at expansion locations across CEE including Romania"

Consumer mobility behaviour is changing, leading to up to one out of ten cars sold in 2030 potentially being a shared vehicle and the subsequent rise of a market for fit-for-p...

 
 
   
advertising

advertising

advertising

More on News
President Iohannis urges Romanians to be more united, stay involved in modernizing Romania

Romania's President Klaus Iohannis urged Romanians in France to be more united and stay involved as much as they are now in helping modernise Romania.

2 Comments

ArcelorMittal receives binding offer for European assets from Liberty

British-owned Liberty announced a conditional agreement to buy four European steel plants, employing more than 12,500 people.

3 Comments

Revolut gets European banking license

Fintech startup Revolut is now officially a bank. While the startup initially expected to get its European banking license during the first half of 2018, the company has fi...

1 Comment

The Romanian labour market needs a well-thought approach, says FIC

The Foreign Investors Council (FIC) has signaled in the past 2-3 years that its members are anticipating increasing strains on the Romanian labour market because starting w...

1 Comment

Dacia receives 115.8 million RON in state aid from the Finance Ministry

The Romanian Finance Ministry has signed five more grant agreements under the state aid scheme, and among the beneficiaries are Automobile Dacia, with RON 115.8 million.

1 Comment

EBRD cuts economic growth forecast for Romania

Romania's economy will grow by 4.2 per cent this year and by 3.6 per cent in 2019, according to the most recent forecast released by the European Bank for Reconstruction an...

1 Comment

OTP Bank Romania signs investment funds distribution deal with Eurobank Fund Management Luxembourg

OTP Bank Romania signed a partnership with Eurobank Fund Management Company (Luxembourg) for the distribution of investment funds in Romania. Thus, from December 1st, OTP B...