Solar Energy

Deloitte Romania Assists Entek Elektrik in €32.9M Romanian Solar Acquisition

Deloitte Romania provided tax due diligence and transaction support to Turkish energy company Entek Elektrik Üretimi A.Ş. in its acquisition of Romanian entities Eco Sun Niculesti S.R.L. and Euromec-Ciocanari S.R.L. from Econergy International Limited. The deal involves a 214.26 MWdc solar power project under development and marks Entek’s entry into the Romanian energy market.

Entek, a 99.23% subsidiary of Tüpraş, Türkiye's largest industrial enterprise, is investing in new generation and renewable energy technologies. The transaction, valued at approximately €32.9 million, was signed in June 2024 and is expected to close by January 31, 2025, pending regulatory approvals and other conditions, including securing project permits.

Deloitte's advisory team, led by Dan Badin, Partner, and supported by Senior Manager Ana Petrescu-Mujdei, Senior Consultant Ana Bica, and Consultant Bianca Husariu, played a critical role in finalizing the sale-purchase agreement.

Eco Sun Niculesti, established in 2021, will develop the solar park, while Euromec-Ciocanari, founded in 1995, owns the project land. This acquisition enhances Entek’s renewable energy portfolio, which now accounts for 80% of its operations, including 11 power plants across seven Turkish cities.

Source: The Diplomat

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