Garanti Bank finances Smart Energy Group’s 5 MW PV Park in Romania

Bucharest, Romania, and Istanbul, Turkey, January 24, 2014 – Smart Energy Group, a renewable energy investment and EPC company is pleased to announce that Garanti Bank, one of the most innovative and dynamic banks in Romania and owned by Turkiye Garanti Bankasi A.S., granted financing to SC Natural Energy Prod SRL for the construction of a 5 MW PV park in Romania.  Smart Energy Group is an investor in the PV park through its Romanian subsidiary, SC Natural Energy Prod SRL.

Smart Energy Group’s TUV SUD certified EPC company, Smart Solar, provided the turn-key EPC services for the solar park, which was connected to ENEL grid at approx 37 km south of Bucharest. The system is expected to provide approx. 6.57 GWh of electricity per year to the County of Giurgiu, based on the PVGIS projections. Thanks to its manual angle changing metal structure, high quality engineering design and products used in the system design; Smart Energy Group expects that the PV park will generate approx. 7 GWh of electricity production per year. The solar park was accepted by the Romanian Energy Regulatory Authority (ANRE) and uses 20,040 modules connected to central inverters specially designed and produced for Smart Solar and 5 transformer stations.

Smart Solar also led the grid connection processes in Romania and provides operation and maintenance of the PV Park. The 5 MW PV Park has already produced more than 200 MWh of electricity since its commissioning in December 2013.

Mr. Halil Demirdag, Executive Chairman of Smart Energy Group, stated that “the 5 MW PV park is a key milestone for our Romanian operations as an investor and EPC company and shows our commitment to the Romanian economy.  This is the second PV park that Smart Solar constructed as an EPC provider in Romania.  Our operational experience in Southeast Europe has enabled us to develop capabilities that we can expand in other countries in the region.”

About Smart Energy Group

Smart Energy Group is a renewable energy investment, EPC, O&M and IPP company, providing turnkey PV parks.  The company has operations in Bulgaria, Greece, Romania, Serbia and Turkey and has successfully completed more than 82 PV parks in the region.  Smart Energy Group has its own PV 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. Smart Energy Group’s Turkey office is located at Istanbul Technical University (ITU) Energy Technopark and plans to continue its activities in partnership with ITU Energy Institute.

About Smart Solar

Smart Solar is Smart Energy Group’s TUV SUD certified EPC company.  Smart Solar provides turnkey EPC services for PV parks in Southeast Europe, including Greece, Bulgaria, Romania and Turkey.



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