Turkish Entek enters Romanian renewable energy market with EUR 33 mn acquisition
<p>Entek Elektrik Üretimi (Entek Electric Production), a company active in the energy sector part of the Turkish group Koç, acquired two Romanian companies that are in the process of obtaining the rights for the development of a 214.26 MWdc (171-182 MWac) photovoltaic project.</p>

<p>The price is approximately EUR 32.9 million, subject to adjustments in the completion phase.</p>

<p>The seller is the British company Econergy International.</p>

<p>The transaction marks Entek's entry into the Romanian energy market.</p>

<p>The operation concerned the takeover of the Romanian companies Eco Sun Niclești, which holds authorizations, some of which are in the process of being obtained, for a 214.26 MWdc solar power plant under development, and Euromec-Ciocanari, which owns the land on which it will be developed the project, from</p>

<p>Econergy International Limited. Entek focuses on investing in next-generation energy technologies as well as renewable energy sources and is 99.23% owned by the Turkish energy company Tupras Turkiye Petrol Rafinerileri.</p>

<p><em>(Photo: Deyangeorgiev/ Dreamstime)</em></p>

<p><em>iulian@romania-insider.com</em></p>