Tosyalı secures €187 million BBVA loan for Turkey solar power projects

Tosyalı Holding, a major global green‑steel producer, signed a €187 million export‑finance buyer‑credit agreement with Spanish banking group BBVA, backed by CESCE guarantees. The loan will fund the first phase of the company’s 1.2 GW solar‑energy plant—specifically the 261 MW Osmaniye and Niğde projects—bringing the total planned capacity to 1.4 GW. GE Vernova’s Financial Services unit coordinated the financing, marking its first CESCE‑backed loan for a renewable project in Turkey, while Inogen will act as EPC contractor and GE Vernova will supply technology.

The investment is intended to meet Tosyalı’s own energy needs, strengthen its energy independence and support its low‑carbon steel production. The firm noted that the project adds to Turkey’s roughly 3.5 GW of installed solar capacity. Tosyalı Holding Chairman Fuat Tosyalı said, “Energy transformation is now a key competitive factor in industry. This financing demonstrates international confidence in our sustainable growth strategy.”