Sabanci Renewables, a subsidiary of Sabanci Holding, has made a significant move by acquiring 100% of the shares of the US-based Oriana Solar, a solar energy facility. This acquisition marks a major milestone for Sabanci Renewables and will significantly boost the renewable energy portfolio of Sabanci Holding in the United States, exceeding 500 megawatts. Furthermore, there are ambitious plans to double this capacity in the near future.
Mr. Cenk Alper, CEO of Sabanci Holding, expressed his confidence in the growth opportunities in the United States, which have encouraged the company to expand its energy investments. Previous successes in other sectors have led them to diversify their investments into the renewable energy field.
Mr. Kivanc Zaimler, President of the Energy Group at Sabanci Holding, emphasized the commitment to owning and operating a substantial international clean energy portfolio. The immediate plan is to sign an engineering, procurement, and construction (EPC) contract for the new power plant investment, which is expected to commence in 2023 and be commissioned in the second quarter of 2025.
Oriana Solar LLC holds the license for a 232 MW solar power plant and a 60 MW energy storage facility in Texas. Sabanci Group’s previously announced 272 MW Cutlass II solar power plant investment is progressing in Texas and is set to be commissioned in the second quarter of 2024.
Mr. Kivanc Zaimler stated, “Part of our growth strategy in energy and climate technologies is to expand our renewable energy portfolio in competitive markets abroad. In this regard, we announced our first solar energy investment in the USA last year. While we continue the construction processes of our 272 MW Cutlass II power plant, we will further strengthen our presence in the region with Oriana Solar LLC. On the other hand, our investments in the USA are not limited to production only. As we shift our strategic direction from ‘traditional’ technologies to ‘disruptive’ technologies, we aim to lead the world’s energy transition with early stage investments in revolutionary ideas. Our ultimate goal is to be among the developers of these disruptive technologies in the energy sector globally.”
Sabanci Holding’s energy investments encompass a diverse and growing power generation portfolio. They are at the forefront of the energy sector in Turkey, focusing on expanding their portfolio with solar and wind projects while maintaining a 100% commitment to renewable technology in new power plant investments. In the global context, Sabanci Holding is leveraging its strength and expertise in Turkey to enter the solar, wind, and storage technology markets.
With an initial investment of a 272 MW solar plant in Texas, Sabanci is determined to reach a renewable energy portfolio of 1000 MW in the United States. Beyond renewables, Sabanci is also venturing into disruptive energy and climate technologies through investments in venture capital funds and start-ups focused on revolutionary concepts such as fusion energy and deep geothermal drilling.
