BBVA bankrolls Tosyali's USD-71m rooftop solar project in Turkey

Turkish green steel producer Tosyali Holding Company has secured a loan from a Spanish banking major for its USD-71-million (EUR 67.8m) rooftop solar project that was announced earlier this year.

Banco Bilbao Vizcaya Argentaria SA (BME:BBVA) said in a statement on Wednesday it is providing a TRY-400-million (USD 23m/EUR 22m) loan to Tosyali Turkiye for this scheme.

"Having worked against the climate crisis for more than 15 years, since 2014 we have transferred 100% of our total finance for new power projects to renewable energy, up to a cumulative total of USD 6 billion. We attach great importance to rooftop solar power for self-consumption, and continue to work for our society to transition to a greener future,” said Garanti BBVA CEO Recep Bastug.

As unveiled by the green steel producer in March, it will install a total of 140 MW of solar panels on top of its facilities by April 2023 in partnership with Huawei and local installation services provider SolarApex.

(USD 1.0 = EUR 0.954)

(TYR 10 = USD 0.578/EUR 0.552)

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