Garanti Bank finances 5.0 MW solar park in Romania

Romania's Garanti Bank granted financing to local company Natural Energy Prod, a subsidiary of renewable energy investment company Smart Energy Group, for the construction of a 5.0 megawatt (MW) solar park in the country, Smart Energy Group said on Tuesday.

The solar park has already produced more than 200 megawatt hours (MWh) of electricity since its commissioning in December 2013, Smart Energy Group said in a statement.

Smart Energy Group’s TUV SUD certified engineering procurement construction (EPC) company, Smart Solar, provided the turn-key EPC services for the photovoltaic park, located at some 37 kilometres south of Romania's capital Bucharest.

The group expects that the solar park will generate around 7.0 gigawatt hour (GWh) of electricity per year, including about 6.57 GWh of electricity to the county of Giurgiu.

Smart Energy Group has operations in Bulgaria, Greece, Romania, Serbia and Turkey and has successfully completed more than 82 photovoltaic parks in the region. It has its own photovoltaic parks with a capacity more than 40 MW (including the ongoing construction) in Southeast Europe and has started its first PV park investment in Kayseri, Turkey as well.

Romania-based Garanti Bank is a owned by Turkiye Garanti Bankasi A.S.

Choose your newsletter by Renewables Now. Join for free!