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One of Türkiye’s leading conglomerates, Sabanci Holding, announced Thursday that its U.S. subsidiary, Sabanci Renewables Inc., has successfully completed the Oriana Solar Power Plant project in Texas.
The Oriana facility, with an installed capacity of 232 MWdc, has officially begun operating at full capacity, according to a statement from the conglomerate on the Public Disclosure Platform. The investment was executed under Sabanci’s strategy to strengthen its global footprint in the new energy economy while advancing its sustainability objectives, the statement said.
The company said the project’s financing structure was finalized in two key stages. A tax equity agreement worth $138 million was signed on September 12, 2024, enabling the company to leverage U.S. investment incentives for renewable energy projects.
In addition, construction loans were converted into long-term project financing loans under agreements signed on March 28, 2024, allowing the facility to transition from development to full commercial operation.
With the launch of the Oriana plant, Sabanci Renewables now operates a total renewable energy capacity of 790 MW across the United States, including the existing Cutlass II Solar Power Plant and the recently acquired Pepper Solar and Lucky 7 Solar projects.
The company described the completion of Oriana as another milestone in its broader ambition to strengthen Türkiye’s presence in the global renewable energy sector through sustainable and technology-driven investments.
Founded in 1967 and headquartered in Istanbul, Sabanci Holding is a publicly traded conglomerate operating across sectors including energy, banking, industry, building materials, and digital technologies, with total assets of ₺3.46 trillion ($71.43 billion). Holding's energy generation arm, Enerjisa Uretim, currently operates 4,222 MW of installed capacity in Türkiye, primarily in wind and hydroelectric power, with plans to reach 6,250 MW by 2028.
In comparison, Türkiye plans to commission 120,000 MW (120 GW) of storage-integrated solar and wind capacity by 2035 under its Renewable Energy Roadmap.
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