Turkish Entek enters Romanian renewable energy market with EUR 33 mn acquisition

Entek Elektrik Üretimi (Entek Electric Production), a company active in the energy sector part of the Turkish group Koç, acquired two Romanian companies that are in the process of obtaining the rights for the development of a 214.26 MWdc (171-182 MWac) photovoltaic project.

The price is approximately EUR 32.9 million, subject to adjustments in the completion phase.

The seller is the British company Econergy International.

The transaction marks Entek's entry into the Romanian energy market.

The operation concerned the takeover of the Romanian companies Eco Sun Niclești, which holds authorizations, some of which are in the process of being obtained, for a 214.26 MWdc solar power plant under development, and Euromec-Ciocanari, which owns the land on which it will be developed the project, from

Econergy International Limited. Entek focuses on investing in next-generation energy technologies as well as renewable energy sources and is 99.23% owned by the Turkish energy company Tupras Turkiye Petrol Rafinerileri.

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