BBVA bankrolls Tosyali's USD-71m roof solar project in Turkey

Jun 15, 2022 02:45 PM ET
  • Turkish green steel producer Tosyali Holding Company has actually secured a loan from a Spanish financial major for its USD-71-million (EUR 67.8 m) rooftop solar project that was announced previously this year.
BBVA bankrolls Tosyali's USD-71m roof solar project in Turkey

Banco Bilbao Vizcaya Argentaria SA (BME: BBVA) said in a statement on Wednesday it is supplying a TRY-400-million (USD 23m/EUR 22m) loan to Tosyali Turkiye for this scheme.

"Having actually antagonized the climate crisis for greater than 15 years, considering that 2014 we have actually transferred 100% of our complete money for new power projects to renewable energy, as much as a collective total of USD 6 billion. We affix excellent relevance to rooftop solar power for self-consumption, as well as continue to work for our society to transition to a greener future," claimed Garanti BBVA chief executive officer Recep Bastug.

As unveiled by the green steel manufacturer in March, it will certainly install a total amount of 140 MW of photovoltaic panels on top of its facilities by April 2023 in partnership with Huawei as well as neighborhood setup services provider SolarApex.

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