Accelerating Growth in Domestic Cell Production: Smart Solar Successfully Completes Its First Sukuk Issuance

Under the TRY 750 million issuance ceiling approved by the Capital Markets Board on November 14, 2024, Smart Solar executed its first lease certificate transaction based on a management contract through Emlak VKŞ. In this transaction, the portfolio of solar panels listed on Smart Solar's balance sheet was utilized as the underlying asset for the sukuk issuance.

Regarding the matter, Halil Demirdağ, Chairman of the Board of Smart Solar Technologies, commented:
"The strong interest shown by our investors in our first sukuk issuance in the capital markets is a powerful reflection of the trust placed in us, which has greatly pleased us. Since our commercial activities align significantly with participation finance principles, we see sukuk as a strategic financing instrument for the sustainable growth of our company.

As a leading value engineering, technology manufacturing, and investment firm in renewable energy, we aim to continue impactful growth in the solar energy sector, contribute to domestic production for economic development, and create value for a greener future. In this direction, we will expand our current production activities by adding new cell production facilities, increasing panel production capacity, and establishing additional solar energy power plants. Moreover, we aim to diversify our financing opportunities in capital markets, reach a broader investor base, and become one of the best examples of sustainable growth.”

With this significant step, Smart Solar has not only strengthened its financial structure but also solidified its pioneering position in the industry by drawing investor interest through innovative and sustainable energy projects.