Rönesans aims high in renewables

ISTANBUL

TotalEnergies has become a 50 percent partner in Rönesans Enerji, a subsidiary of Rönesans Holding, one of Türkiye’s largest conglomerates.

Currently operating six hydroelectric power plant projects with a total installed capacity of 166 MW, Rönesans Enerji aims to continue growing with a 100 percent renewable energy portfolio, striving to become one of Türkiye's top three green energy companies, the company said in a statement.

The size of the transaction was not disclosed.

Energy and Natural Resources Minister Alparslan Bayraktar; French Ambassador to Türkiye Hervé Magro; Rönesans Holding President Erman Ilıcak; and Stéphane Michel, the president of Natural Gas, Energy, and Renewable Energy at TotalEnergies, attended the signing ceremony.

Some 55 percent of Türkiye’s installed capacity is composed of renewable energy sources, Bayraktar said.

“Türkiye aims to increase the share of renewable energy within our installed capacity to 65 percent by the year 2035. To achieve this, we will put into operation each year 3,000 MW of solar energy, 1,500 MW of wind energy, and a total of 5,000 MW of offshore wind energy for the next 12 years,” he added.

The collaboration with TotalEnergies represents one of the largest joint ventures ever established in the renewable energy sector in Türkiye, Ilıcak said.

“Through this partnership, we will closely monitor new technologies and vertical integration investment opportunities related to green energy transformation and, as we have done in all our fields of operation, we will take the lead in the energy sector in our country,” he said.

Rönesans Holding, which generates a significant portion of its revenue from international projects and investments with partners such as Meridiam, Sojitz and Samsung, has surpassed 7 billion euros in investments in Türkiye.

The company foresees its total investment amount in the country to exceed 10 billion euros by 2028.