Tosyalı Holding has signed a EUR 187 million financing agreement with BBVA for solar power plants to be developed in Osmaniye and Niğde as part of its renewable energy investment program.
Structured under an export finance buyer credit model, the agreement is backed by a guarantee from CESCE, Spain’s export credit agency. The financing will be used for the construction of two solar power plants with a combined installed capacity of 261 MW.
Renewable energy capacity to reach 1.4 GW
The Osmaniye and Niğde projects are the first two projects under Tosyalı’s new 1.2 GW photovoltaic investment program.
Tosyalı currently has 235 MW of rooftop solar capacity at its industrial facilities. Once the new investment program is completed, the company aims to increase its self-generation capacity from renewable sources to approximately 1.4 GW.
Inogen and GE Vernova to participate in the projects
Under the financing agreement, Inogen will undertake the engineering, procurement and construction of the projects, while GE Vernova Spain will contribute as a technology supplier.
Accordingly, BBVA will provide the project financing, CESCE will provide export credit guarantees, Inogen will handle engineering and installation, and GE Vernova Spain will supply the energy technology.
Supporting the transition to green steel production
Tosyalı Holding Chairman Fuat Tosyalı said the energy transition has become a key factor determining industrial competitiveness.
He stated that the solar investments would increase Tosyalı’s capacity to generate its own energy from renewable sources, strengthen its energy independence and support the company’s long-term transition toward green steel production.
According to a BBVA statement dated 13 July 2026, Tosyalı has an annual crude steel production capacity of 15 million tonnes. The 261 MW solar investment in Osmaniye and Niğde represents the first phase of the company’s program to increase the use of renewable energy in its steel production.
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