News | 03 July 2026
BBVA leads the financing of Yayla’s solar project in Türkiye
The USD 36.2 million financing will support the construction of a 55 MW solar project in Türkiye to supply renewable energy to Yayla Agro Gıda as part of the Group’s energy transition strategy. BBVA acted as Mandated Lead Arranger, ECA Coordinator and Lender of the Sinosure-backed financing.
The project involves the construction of multiple photovoltaic plants in the province of Niğde, being developed by GMC Solar under Türkiye's regulatory framework for self-consumption power generation. The electricity generated will supply part of the energy demand of Yayla Agro Gıda, one of the country's leading food companies, under a Power Purchase Agreement (PPA).
The transaction is backed by Sinosure, China's export credit agency, based on the participation of a Chinese EPC contractor in the development of the facilities. The financing is the result of the close collaboration between BBVA's Export & Agency Finance team, responsible for structuring and coordinating the ECA-backed financing, and Garanti BBVA, whose long-standing relationship with the client was key to the successful execution of the transaction.
"This transaction demonstrates the role structured finance can play in accelerating the decarbonisation of energy-intensive industries," said Sarah YU, Managing Director, responsible for Export & Agency Finance Asia at BBVA CIB. "By combining our expertise in export credit agency financing with the close collaboration between BBVA and Garanti BBVA teams, we are able to support our clients in projects that enhance their competitiveness while contributing to a more sustainable economy."
With this transaction, BBVA reinforces its commitment to financing projects that support the energy transition in Türkiye and help clients develop business models that integrate sustainability considerations. The transaction also highlights the bank's ability to structure international financing solutions that enable strategic investments with the potential to generate both economic and environmental impact.