TSKB and Spanish Essentium Group are boosting Türkiye's energy

3 September 2009
- 2 min Read

In today’s world where the energy sector is becoming more important, TSKB, a pioneer in financing of renewable energy and environmental projects, has supplied 42 million euro credit for the Spanish Essentium Group’s four new hydroelectric plants.

Spain’s premier corporation Essentium Group, who bought the Universal Cement Company last year and that committed to invest 400 million Euros in Türkiye, completed the signing ceremony for the credit supplied by TSKB for their new 4 hydroelectric plants on the 3rd of September 2009.

The hydroelectric plants will be built in Giresun, Ardahan, Duzce, and Kayseri with the sponsorship of TSKB, known as Türkiye's environment – friendly bank. These hydroelectric plants are planned to cost 56 million Euros with 42 MW installed capacity and generate 130 mn kWh energy per year.

TSKB, financing the largest number of renewable energy projects in Türkiye, is going to reach a total of 72 projects with this final endeavor. TSKB’s projects consist of 65 hydroelectric plants, 3 wind plants, 2 geothermal generating stations, and 2 power stations manufacturing with marsh gas.

TSKB’s General Manager Halil Eroğlu during the signing ceremony stated that “as TSKB, we are offering special loans to finance sustainable and environment friendly investments. In the last 5 years TSKB signed the largest number of projects with the improvement of our energy portfolio and also with the environment and renewable energy loans we supplied. Also the value we created locally about the environment is admired by various international platforms. The best example of this is being awarded as the “Emerging Markets Sustainable Bank of the Year” for Eastern Europe for the second year in a row under “Financial Times & IFC Sustainable Banking Awards”

Eroğlu also mentioned that the Spanish Essentium Group shifted their investment focus to Türkiye, and he added “we are happy that we will finance the 42 million of 4 hydroelectric plants which are built by Essentium the Spanish Corporation, one of the main investors in Türkiye.

In the signing ceremony, Board Member of the Essentium Energy Investments Incorporated Company Ali Berkan Ateş signed on behalf of the Essentium Group in the presence of Chief Executive of the Essentium Group Susana Monje and Spain Ambassadress Joan Clous. He stated that they are, as a Spanish corporation, considered as one the biggest investors on energy, cement, and mining in Türkiye. He also stated that; “as Essential Group, we believe in Turkish economy and industry, its potential and dynamism. Ateş continued and stated that: “the improvement in the demand of Türkiye's electric energy and related investment opportunities in the renewable energy field, make Türkiye a prioritized country for the investments of Essentium Group. The Essentium Group’s aim is to increase the renewable energy portfolio with the diversion of solar and wind power energies which are reaching the 100 MW in Türkiye. Also we are pleased to be the first Spanish investment group in the area of manufacturing the renewable electric energy in Türkiye, closely tied to Spain, a country that is also an expert in this field.