Renewable Energy Investments and the Agreement Signed with EÜAŞ
Sabancı Group continues to invest in the energy sector both in Türkiye and abroad in line with its focus on the new economy, its goal to strengthen its global footprint, and its sustainability objectives. These investments aim to reinforce its leading position in the Turkish energy market while also supporting its international growth strategy.
In this context, Enerjisa Enerji Üretim A.Ş. ("Enerjisa Üretim"), 50% of whose share capital is indirectly owned by Sabancı Holding, has commissioned a total of 414 MW of wind power plant capacity to date under the YEKA RES-2 tenders. As a result, Enerjisa Üretim's total installed capacity has reached 4,222 MW, further strengthening its position in Türkiye's private sector electricity generation. Within the scope of the YEKA-2 projects, five new plants have been commissioned, increasing the total number of plants operated by Enerjisa Üretim to 31. At least two additional plants are planned to be commissioned by the end of the year.
Out of the total 241 turbines to be commissioned under the YEKA RES-2 projects, the installation of 160 turbines has been completed. The commissioning of the remaining turbines is progressing as planned.
With the completion of ongoing investments and the commissioning of newly awarded capacity expansions, Enerjisa Üretim is targeting to reach at least 6,250 MW of installed capacity by the end of 2028, further reinforcing its strong position in Turkey's private sector electricity generation.
Additionally, an agreement has been signed between Enerjisa Üretim and Elektrik Üretim Anonim Şirketi (EÜAŞ) under the incentive scheme for domestic coal power plants, whereby electricity produced will be sold at a minimum price of USD 75 per MWh, indexed to the US dollar.
Pursuant to this agreement, the pricing will be valid for electricity sales until December 31, 2029. Under this framework, if the hourly Market Clearing Price falls below USD 75, sales will be made at USD 75/MWh; if the Market Clearing Price exceeds USD 75, sales will be executed at the prevailing market price.
Within the scope of this agreement, 459,398 MWh of electricity to be generated during the remainder of 2025, and an annual amount of 2,361,696 MWh to be generated between 2026 and 2030, will be sold directly to EÜAŞ at the minimum price of USD 75/MWh.
On the other hand, Sabancı Renewables Inc., an indirect wholly owned subsidiary of Sabancı Holding through Sabancı İklim Teknolojileri A.Ş., has successfully completed and commissioned the 232 MWdc Oriana Solar Power Plant in Texas, USA, as planned.
In line with the Tax Equity Agreement signed on September 12, 2024, the USD 138 million tax equity funding was successfully completed, and as per the Financing Agreements signed on March 28, 2024, existing construction loans were converted into long-term project financing facilities.
Together with the operational Cutlass II Solar Power Plant and the recently acquired Pepper Solar and Lucky 7 Solar projects, Sabancı Renewables Inc. will reach a total renewable energy portfolio of 790 MW in the United States.