Sabancı Renewables Inc. acquires new solar power plant in Texas

Sabancı Holding's US-based company, Sabancı Renewables Inc., has acquired a 156-megawatt solar power plant in the state of Texas. All shares of Pepper Solar Farm LLC were purchased from an unrelated third party, and the project is planned to become operational in the third quarter of 2027.

The acquisition was carried out through Sabancı İklim Teknolojileri A.Ş., a 100% subsidiary of Sabancı Holding.

In a statement made to the Public Disclosure Platform (KAP), it was stated that this investment would significantly strengthen Sabancı's renewable energy push in the US.

In addition to the company's existing Cutlass II plant and the Oriana project, which is expected to be commissioned in July, the total renewable energy capacity of Sabancı Renewables Inc. in the US will reach 660 megawatts once the newly acquired Pepper Solar Power Plant comes online.

The statement made to KAP included the following:

"100% of the shares of Pepper Solar Farm LLC, which holds the license rights for a 156 MW capacity solar power plant in the US state of Texas, have been purchased from an unrelated third party by Sabancı Renewables Inc., a 100% subsidiary of Sabancı İklim Teknolojileri A.Ş., which is wholly owned by our Company."

Sabancı Renewables Inc. continues its renewable energy investments in the US in line with the Sabancı Group's growth strategy focused on the new economy, strengthening its global footprint, and sustainability goals.

News Source: 12punto