Incorporated by Sabanci Holding’s 100% subsidiary Sabanci Iklim Teknolojileri AS, Sabanci Renewables Inc. has become the full owner of the U.S.-based Oriana Solar LLC, which holds a license for a 232 megawatt (MW) solar power plant (SPP) and a 60 MW energy storage facility in Texas.
The American firm’s SPP and energy storage facility projects will start this year and become operational in the second quarter of 2025.
The 272 MW Cutlass II SPP project, which Sabanci Holding continues to build in Texas, will be commissioned in the second quarter of 2024.
The holding company’s renewable energy portfolio will exceed 500 MW in the U.S. after those investments become operational.
Sabanci Holding aims to double its installed capacity in the U.S. soon.
Sabanci Holding Energy Group President Kivanc Zaimler said the investments are rapidly increasing in Turkey and the U.S., and one-third of renewable energy investments will bear Sabanci Holding’s signature in Turkey in the next five years.