Green Forum • 3 July, 2024 at 8:00 AM
Entek Elektrik Üretim, a group company engaged in the energy sector, acquired two Romanian companies owning the rights, some of which are in the application process, to a 214.26 MWdc solar power project under development, from UK-based Econergy International Ltd.
Entek, a 99.23% subsidiary of the Turkish energy company Tupras Turkiye Petrol Rafinerileri, specializes in investing in next-generation energy technologies and renewable energy sources. Tupras, Turkey's largest industrial enterprise, is the 7th largest refiner in Europe, producing a wide range of fuel products.
CMS provided Entek with comprehensive support throughout the transaction, including due diligence, transaction structuring, drafting, and negotiating transfer documents, and overseeing the signing process. CMS will continue to assist Entek with post-signing tasks, such as obtaining regulatory clearances and facilitating the closing.
The deal is anticipated to close following the receipt of the necessary approvals from relevant regulatory authorities and the acquisition of project permits for construction readiness.