Tosyalı, one of the world's leading green steel producers with an annual crude steel production capacity of 15 million tonnes, continues to support its sustainability and energy transition investments through international financing. The company has signed a EUR 187 million Export Finance Buyer Credit Agreement with BBVA, backed by Spain's Export Credit Agency Cesce, for the Osmaniye and Niğde projects, which constitute the first phase of its 1.2 GW solar power investment program.
The financing, which will be used for the two projects with a combined installed capacity of 261 MW, was arranged under the coordination of GE Vernova's Financial Services division. Inogen is serving as the EPC contractor, while GE Vernova is acting as the technology supplier. The transaction also marks GE Vernova's first Cesce-backed financing for a renewable energy project in Türkiye.
Commenting on the agreement, Tosyalı Holding Chairman Fuat Tosyalı stated that energy transition has become one of the key factors determining competitiveness in industry and emphasized that sustainability lies at the core of the company's business model. He noted that the solar investments, which will bring the company's total renewable energy capacity to 1.4 GW, will strengthen its energy independence and further reinforce its position in the global green steel industry.
Fuat Tosyalı also underlined that the agreement signed with BBVA and Cesce demonstrates the confidence international financial institutions have in Tosyalı's long-term vision and sustainable growth strategy.
Meanwhile, Inogen Group Chairman Prof. Ali Murat Soydan stated that, thanks to the company's extensive experience in the energy sector and its strategic partnership with GE Vernova, Inogen will continue to provide optimal solutions to support the industrial sector's green transformation goals.
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