Tosyali has secured EUR 187 mln (USD 213 mln) in financing from BBVA, backed by Spain’s export credit agency Cesce, to develop the first phase of its solar energy program in Turkey.
The financing will support the construction of solar power plants in Osmaniye and Nigde with a combined installed capacity of 261 MW. The projects form the first stage of Tosyali’s plan to build 1.4 GW of renewable self-generation capacity to support its green steel production.
The solar facilities will be delivered by GE Vernova as equipment supplier and Inogen as EPC contractor. Tosyali currently operates 235 MW of rooftop solar capacity across its industrial sites and said the expansion will strengthen its energy independence while advancing its decarbonization strategy.
With an annual crude steel production capacity of 15 mln tons, Tosyali said the renewable energy investments will support its long-term sustainability goals and reinforce its position as a leading green steel producer.
Tosyali Holding operates nearly 40 facilities across Europe, Africa and Asia. In Turkey, key assets include the Iskenderun plant (4 mln tons per year) and Tosyali Metalurji in Osmaniye (2 mln tons per year). In Algeria, capacity stands at around 5 mln tons per year with plans to expand to 8.5-9.5 mln tons per year, while in Spain the company operates a 240,000 tons per annum spiral pipe plant.
1 USD / 0.87 EUR