French TotalEnergies signed an agreement with Türkiye's Rönesans Holding to develop a joint-venture by acquiring a 50 percent stake in Rönesans Enerji to develop renewable energy projects in Türkiye.
Commenting on the deal TotalEnergies Gas, Renewables & Power President Stéphane Michel said, “We are delighted to join forces with Rönesans, 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 developing our integrated power activity profitably. I'm delighted that it will also help boost Türkiye's renewable energy sector."
Also speaking at the signing ceremony Rönesans Holding President Erman Ilıcak, said, “We deeply value investments in renewable energy both in Türkiye and worldwide. With a goal of playing an active part in Türkiye'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."
TotalEnergies is a global multi-energy company producing and marketing energies: oil and biofuels, natural gas and green gases, renewables and electricity, with more than 100,000 employees. Having an installed capacity of 18 GW as of March 2023, the company aims to expand its renewable portfolio to 35 GW by 2025, and to 100 GW by 2030.