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Energy cooperation between Renaissance Holding and Total Energies

Rönesans Holding cooperated with French energy company Total Energies for new investments in the renewable energy sector.

Energy cooperation between Renaissance Holding and Total Energies

Real estate and trade group Rönesans Holding and French energy company Total Energies signed a 50-50 cooperation on green energy.

Erman Ilıcak, Chairman of Rönesans Holding, stated that they have started a new investment and reform move in line with the country's goals of combating climate change as well as reliable, affordable energy supply in the coming period. "In this direction, the main areas that will stand out will be renewable energy, energy efficiency, nuclear energy, natural gas as a transition fuel, hydrogen and digitalization in energy," Ilıcak said.

Ilıcak emphasized that renewable energy is an area that contributes to energy supply security against increasing demand, makes prices more competitive and reduces foreign dependency.

Renaissance Energy, which will continue its activities under the partnership roof of Rönesans Holding and TotalEnergies, has an installed capacity of 166 megawatts with its 6 hydroelectric power plant (HEPP) projects.

The company aims to become one of Turkey's top 3 green energy companies by continuing to grow with its 100 percent renewable energy portfolio in the new period.

Erman Ilıcak, who did not disclose any figures regarding the partnership, said that they gave up the public offering of Rönesans Energy.

Investments in Turkey will exceed 10 million euros in 2028

Pointing out that 2023 is an extremely meaningful year for them, Ilıcak said, "As Rönesans Holding, we derive our savings and capital mostly from our projects abroad. Together with our international partners, we have transformed this accumulation and capital into investments that provide employment for our country and our people. As of today, this investment amount is more than 7 billion Euros. With our investments in different business lines, we expect the total investment amount we realize in our country to exceed EUR 10 billion by 2028."

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