Sabancı Renewables acquires company in United States
ISTANBUL
The wholly owned subsidiary Sabancı Renewables Inc. of Sabancı İklim Teknolojileri has acquired 100 percent of the shares of Pepper Solar Farm LLC, which holds the license rights for a 156 MW solar power plant located in Texas, the United States.
The shares were bought from an unrelated third party, Sabancı Holding said in a filing with Borsa Istanbul.
Upon completion of the solar power plant investment, the facility is expected to reach commercial operation in the third quarter of 2027, the statement added.
With this new capacity investment, in addition to the currently operational Cutlass II solar power plant and the Oriana solar power plant scheduled to be commissioned in July, Sabancı Renewables Inc.'s total renewable energy portfolio in the United States will reach 660 MW, it added.
Sabancı Renewables Inc. continues its renewable energy investments in the United States in line with the Sabancı Group's strategy focused on new economy-driven growth, strengthening its global footprint, and advancing sustainability objectives, said the statement.
