TotalEnergies targets Turkish renewables with new joint venture
TotalEnergies targets Turkish renewables with new joint venture | Windpower Monthly
Oil and gas major TotalEnergies has signed a deal to buy 50% of Turkish developer Rönesans Enerji, which is targeting a 2GW renewables portfolio by 2028.
It is due to buy half of the developer from Rönesans Holding, which also has investments in construction, real estate and healthcare.
Rönesans Enerji aims to have 2GW of operational renewable energy capacity by 2028.
It currently has 166MW of operational hydropower projects, 182MW of onshore wind under construction, and has a 700MW development pipeline of onshore wind, solar PV and battery storage assets.
Stéphane Michel, TotalEnergies’ president of gas, renewables and power, said: “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.”
The transaction is subject to regulatory and administrative approvals.
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