Turkey: TotalEnergies Partners With Rönesans Holding to Develop Renewable Energy in the Country
24 Julho 2023 - 5:04AM
Business Wire
Regulatory News:
TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) has signed an
agreement with R�nesans Holding to acquire a 50% stake in R�nesans
Enerji and jointly develop, through this joint-venture, renewable
projects in Turkey, which is a liberalized growing electricity
market.
R�nesans Enerji is currently operating a portfolio of 166 MW
hydro assets. The company has as well secured a pipeline of more
than 700 MW of wind, photovoltaic, and battery storage assets.
Leveraging TotalEnergies knowhow in onshore wind and solar
development and in electricity trading and R�nesans deep knowledge
of the local electricity market, R�nesans Enerji’s ambition is to
produce 2 GW of renewable energy by 2028.
The production generated by these sites will be marketed,
notably by selling it directly on the electricity market or by
entering into power purchase agreements (PPAs) with end-buyers.
These projects, which are cost-competitive given the quality of
Turkey's renewable potential, are in line with the Company's
strategy of becoming an integrated player in the electricity
markets, taking advantage of price volatility, and will contribute
to achieving the Integrated Power Business Unit's double-digit
profitability targets.
“We are delighted to join forces with R�nesans, which has
developed a diversified portfolio of assets including wind, hydro
and solar power. Given the outlook for the Turkish market and the
quality of the renewable sites in the country, we are convinced
that this new partnership will be a further step towards our goal
of developing our Integrated Power activity profitably. I'm
delighted that it will also help boost Turkey's renewable energy
sector”, said Stéphane Michel, President Gas, Renewables &
Power for TotalEnergies.
“We deeply value investments in renewable energy both in Turkey
and worldwide. With a goal of playing an active part in Turkey’s
green energy transition, it was crucial that we work with a
reputable and impactful global player. We’re excited to collaborate
with TotalEnergies to jointly invest in green projects. While
adding a new partner to our global shareholders, we are always
excited to invest in our country”, said Erman Ilicak, R�nesans
Holding’s President.
The transaction is subject to regulatory and administrative
approvals.
***
TotalEnergies and renewables electricity As part of its
ambition to get to net zero by 2050, TotalEnergies is building a
profitable portfolio of activities in electricity and renewables.
At the end of March 2023, TotalEnergies' gross renewable
electricity generation installed capacity was 18 GW. TotalEnergies
will continue to expand this business to reach 35 GW of gross
production capacity from renewable sources and storage by 2025, and
then 100 GW by 2030 with the objective of being among the world's
top 5 producers of electricity from wind and solar energy.
About TotalEnergies TotalEnergies is a global
multi-energy company that produces and markets energies: oil and
biofuels, natural gas and green gases, renewables and electricity.
Our more than 100,000 employees are committed to energy that is
ever more affordable, cleaner, more reliable and accessible to as
many people as possible. Active in nearly 130 countries,
TotalEnergies puts sustainable development in all its dimensions at
the heart of its projects and operations to contribute to the
well-being of people.
@TotalEnergies l TotalEnergies l TotalEnergies
l TotalEnergies
About R�nesans Holding R�nesans Holding, headquartered in
Ankara, is the 24th largest international contracting company
globally and the 8th in Europe* with international operation in 30
countries across Europe, Central Asia, the Middle East and Africa -
including Ballast Nedam in the Netherlands and Heitkamp in Germany,
R�nesans has been operating as the main contractor and investor
successfully for 30 years across construction, real estate
development, energy, healthcare and industrial facilities. Putting
resilience and growth through innovation at the core of the
company, with a priority on sustainability and social development,
R�nesans has developed projects supporting students with
scholarships, academic platforms and initiatives; been a signatory
of the UN Global Compact since 2015; and a signatory of the UN
Women’s Empowerment Principles since 2016. Along with its partners
IFC, GIC, Meridiam Infrastructure, Sojitz, Samsung [and Total
Energies], R�nesans has invested more than EUR7 billion into
pioneering projects in Türkiye. *According to Engineering News
Record 2022, World’s Top 250 International Contractors.
Cautionary Note The terms “TotalEnergies”, “TotalEnergies
company” or “Company” in this document are used to designate
TotalEnergies SE and the consolidated entities that are directly or
indirectly controlled by TotalEnergies SE. Likewise, the words
“we”, “us” and “our” may also be used to refer to these entities or
to their employees. The entities in which TotalEnergies SE directly
or indirectly owns a shareholding are separate legal entities. This
document may contain forward-looking information and statements
that are based on a number of economic data and assumptions made in
a given economic, competitive and regulatory environment. They may
prove to be inaccurate in the future and are subject to a number of
risk factors. Neither TotalEnergies SE nor any of its subsidiaries
assumes any obligation to update publicly any forward-looking
information or statement, objectives or trends contained in this
document whether as a result of new information, future events or
otherwise. Information concerning risk factors, that may affect
TotalEnergies’ financial results or activities is provided in the
most recent Universal Registration Document, the French-language
version of which is filed by TotalEnergies SE with the French
securities regulator Autorité des Marchés Financiers (AMF), and in
the Form 20-F filed with the United States Securities and Exchange
Commission (SEC).
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