Romania’s leading Banca Transilvania extends EUR 71.4 mln loan for Entek Elektrik PV park

The largest bank in Romania, Banca Transilvania, announced that it will finance the development of the Eco Sun Niculești photovoltaic park, Entek Elektrik’s first investment in local green energy production, with EUR 71.4 million.

It is one of the largest bilateral financings granted to a photovoltaic project under development in the country. Once completed, the park, located in Dâmbovița County, will have an installed capacity of approximately 205 MW. The total value of the project is estimated at EUR 100 million.

“Projects of this scale contribute to strengthening energy independence and modernizing the Romanian economy. We are pleased to support Entek Elektrik’s first investment in renewable energy production in Romania and to continue the solid partnership that we have built together,” said 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.

In Turkey, Entek owns an energy capacity portfolio of 550 MW. The company aims to further expand its renewable energy portfolio and seeks to become one of the leading green energy producers in Turkey.

(Photo source: Alpar Benedek|Dreamstime.com)