USD 75 Million Financing for the Energy Investment of Mutlucan Şeker From TSKB
TSKB provided financing of USD 75 million to Mutlucan Şeker for the acquisition of RHG Enertürk Energy. Offered with a total maturity of 6 years, this financing aims to make a long-term contribution to Türkiye's energy transformation. TSKB CEO Ozan Uyar said: "The financing we provided for Mutlucan Şeker's acquisition of RHG Enertürk Energy serves our sustainable growth targets while strengthening the presence of our industrialist in the energy sector."
TSKB (Industrial Development Bank of Türkiye) offered USD 75 million financing for the acquisition of RHG Enertürk Enerji Üretim ve Ticaret A.Ş. (RHG) shares by Mutlucan Şeker Üretim Gıda Sanayi ve Ticaret A.Ş. The loan will have a maturity of 6 years including the grace period. Aiming to make a long-term contribution to Türkiye's energy transformation, RHG has a total portfolio size of 221.72 MW including 7 hydroelectric power plants (HEPP) with an installed capacity of 167.02 MW and 1 wind power plant (WPP) with an installed capacity of 54.70 MW.
Commenting on the agreement, TSKB CEO Ozan Uyar said, "We are pleased to finance strategic investments that strengthen the industrial capacity of our country and contribute to energy supply security. The financing we provided for Mutlucan Şeker's acquisition of RHG Enertürk Enerji serves our sustainable growth targets while strengthening the presence of our industrialist in the energy sector. We will continue to provide added value to the Turkish economy by standing by the leading organizations in their sectors."
Commenting that they enable the reuse of renewable energy assets within a production-oriented industrial group with a long-term investment perspective and the continuity of clean energy investments thanks to this cooperation, Şenol Mutlu, Board Member of Mutlucan Şeker, said. "We also create significant value in terms of managing energy costs, strengthening industry-energy synergy and boosting operational efficiency. We believe that this qualified financing process, which directly contributes to Türkiye's clean energy vision, will create value for our country and our sector."
