Banca Transilvania finances with 71.4 million euros the development of the Eco Sun Niculești photovoltaic park, Entek Elektrik’s first investment in local green energy production. The total value of the project is estimated at 100 million euros.
Located in Dâmbovița County, the Eco Sun Niculești project marks Entek Elektrik’s first investment in the production of energy from renewable sources in Romania and is one of the largest bilateral financing granted to a photovoltaic project under development in the country.
Once completed, the park will have an installed capacity of approximately 205 MW.
“Projects of this magnitude contribute to strengthening energy independence and modernizing the Romanian economy. We are happy to support Entek Elektrik’s first investment in renewable energy production in Romania and to continue the solid partnership we have built together. Banca Transilvania is a partner of strategic investments and long-term value creation, investments that can encourage new projects with a positive impact on the environment and local communities” – says Cosmin Călin, Deputy General Manager Large Corporate, Banca Transilvania.
The investment in the Eco Sun Niculești project is made through Entek Elektrik Üretimi A.Ş., the renewable energy company of the Koç Group, and its main shareholder is Türkiye Petrol Refinerileri A.Ş. (Tüpraş), the largest industrial company in Turkey and the seventh largest refinery operator in Europe.
Entek has an energy capacity portfolio of 550 MW in Turkey and has significant experience in the development, operation and marketing of electricity.
Banca Transilvania (BVB: TLV) is the largest financial player in Romania and Southeastern Europe, a digital banking ecosystem that connects millions of people and businesses to financial solutions. As a universal bank, BT covers all customer segments and all lines of business. BT has a 23% market share, over 5 million customers, 75,000 shareholders & investors and over 10,000 employees. The national network, comprising 530 offices, together with state-of-the-art digital platforms, ensures access to banking services from anywhere and anytime.
Entek Elektrik was established in 1995 and is the renewable energy company of the Koç Group. Türkiye Petrol Rafinerileri A.Ş. (Tüpraş) is the majority shareholder of the company, holding 99.24% of the shares of Entek. With an installed production capacity of 550 MW, Entek is a renewable energy investment company that operates a diversified portfolio of renewable power plants in Turkey and conducts electricity trading activities. The company aims to further expand its renewable energy portfolio and aims to become one of the leading producers of green energy in Turkey, through sustainable growth, operational excellence and strategic investments.