Sabancı Holding, one of Türkiye’s largest conglomerates, is set to broaden its renewables portfolio, as it has announced the acquisition of 100% shares in a solar energy facility and an energy storage facility in the U.S. state of Texas through its wholly-owned subsidiary.
Sabancı Renewables Inc., a subsidiary of Sabancı Holding, has acquired 100% of the shares of Oriana Solar LLC, consisting of investments in a 232-megawatt (MW) solar energy facility and a 60-megawatt energy storage facility in the U.S.
"The engineering, procurement and construction (EPC) contract for the mentioned power plant investment is planned to be signed as soon as possible, with the project investment expected to commence in 2023 and be commissioned in the second quarter of 2025,” the company has said in a statement.
The solar energy plant to be constructed will be Sabancı's second renewable energy investment in the U.S.
The group is also continuing construction in Texas for the 272-megawatt Cutlass II solar energy plant, which is projected to be commissioned in the second quarter of 2024.
With these two investments, the renewable energy portfolio of Sabancı Holding in the U.S. will exceed 500 megawatts. There is also a goal to double this capacity in a short period of time.
"We continue to serve as a bridge between Türkiye and the world," said Kıvanç Zaimler, energy group head at the holding.
"With our investments in the energy sector, primarily in renewables, we continue to lead the private sector in Türkiye. Through our company Enerjisa, we are preparing to gradually commission our total wind energy plants with a capacity of 1,000 megawatts while also working diligently to increase our installed capacity in existing plants, aiming to exceed 5,000 megawatts in Türkiye."
"Moreover, another pillar of our growth strategy in energy and climate technologies is to expand our renewable energy portfolio in competitive international markets," he noted.
“In this regard, we announced our first solar energy investment in the United States last year. While the construction processes of our 272-megawatt Cutlass II plant continue, we will further strengthen our presence in the region through our partnership with Oriana Solar LLC, with whom we have signed agreements,” Zaimler said, Daily Sabah reports.
