Rönesans Enerji Secures New $40 Million Overseas Financing from ICBC

Rönesans Enerji has secured new financing of 40 million US dollars from ICBC, to be used in wind, solar and battery storage investments and in the development of new renewable energy projects. With this, the company will have obtained approximately 600 million US dollars in financing from 10 different financial institutions over the past three years.

Rönesans Enerji, which operates as a partnership between Rönesans Holding and TotalEnergies, signed a financing agreement worth 40 million US dollars with the China-based international financial institution ICBC in order to support its renewable energy investments.

The financing provided is planned to be used for the company's ongoing wind, solar and battery storage investments, as well as for the development of new renewable energy projects. The financing will provide resources for the continuation of Rönesans Enerji's current investment program and for the expansion of its renewable energy portfolio.

With the new agreement made with ICBC, Rönesans Enerji will have secured approximately 600 million US dollars in financing from 10 different financial institutions over the past three years.

The financing transactions the company has carried out with international financial institutions stand out as part of its strategy to create a long-term and diversified funding structure for the financing of renewable energy investments.

Rönesans Enerji continues its renewable energy investments in Türkiye by combining Rönesans Holding's experience in engineering and investment with TotalEnergies' expertise in the global energy sector.

Rönesans Enerji has significantly increased its installed capacity through the investments it has recently made. The company's installed capacity rose from 166 MW to 577 MW over a period of approximately two years.

In addition to the company's existing portfolio, it also has projects in the investment and development stages. As of today, construction continues on four renewable energy projects with a total installed capacity of 126 MW, while development work continues on projects with a total capacity of 680 MW.

With the completion of the projects currently under construction and in the development phase, Rönesans Enerji's total portfolio is targeted to reach 1,400 MW.

Rönesans Enerji is diversifying its renewable energy portfolio with wind, solar and hydroelectric investments, as well as battery energy storage systems.

The new financing provided by ICBC is also planned to be used for financing projects in these investment areas and for the development of new projects. In addition to capacity growth, the company aims to expand its projects for Türkiye's energy transition through investments that also include energy storage technologies.

With the new financing, Rönesans Enerji is expected to increase its renewable energy generation capacity and to incorporate its projects in the development phase into its investment program.