Solar Energy

Entek Elektrik Üretimi A.Ş. Acquires 214.26 MWdc PV Plant in Romania

CIGA Energy Advisory (CEA), a member of the RCI Holding of companies, has announced the successful signing of a significant transaction in the renewable energy sector. On June 13, 2024, Entek Elektrik Üretimi A.Ş. ("Entek") signed a Share Purchase Agreement to acquire a 214.26 MWdc photovoltaic (PV) power plant under development in Romania. The total value of the entities involved in the sale is approximately 32.9 million Euros, subject to closing adjustments.

Entek Elektrik Üretimi A.Ş., based in Türkiye, is a prominent energy sector player, with Türkiye Petrol Rafinerileri A.Ş. ("Tüpraş") as its main shareholder. Tüpraş is Türkiye’s largest industrial enterprise and Europe's 7th largest refiner.

CIGA Energy Advisory provided extensive evaluation services for the acquisition, covering technical, environmental, and health & safety assessments, technical permits and licenses, environmental permitting, biodiversity assessments, grid connection, electrical matters, and a site visit with a drone photographic report. These findings were compiled into a comprehensive Due Diligence report. The project was led by Group COO Cristina Popescu, supported by Angela Nedelcu, Cosmin Briciu, Antoniu Dumitru, and Raul Toma.

"We are thrilled to have facilitated this significant transaction in the renewable energy sector, marking Entek's first major investment in Romania," said Dan Stratan, CEO of RCI Holding. "This project underscores our commitment to promoting sustainable energy solutions and highlights our expertise in navigating complex international deals."

CIGA Energy Advisory, a strategic spinoff from CIGA Energy, has been offering services in business consulting, sustainability (ESG) services, regulatory consulting, and technical consulting since 2010. The company has supported EU Funds applications exceeding €2 billion in total investment value and provided due diligence services covering over 3.5 GW of renewable energy systems.

RCI Holding, founded in 2000, is a conglomerate based in Bucharest, Romania, with 17 companies active in 14 countries, generating an annual turnover of 62 million Euros in 2023.

Source: Comunicate de presa

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