Sabancı Holding's Solar Power Plant project in the USA was put into operation

According to the statement made by the company to the Public Disclosure Platform (KAP), within the scope of the financing agreements announced on November 15, 2023, the funding of the tax equity investment of 184 million USD was completed as of May 17, 2024, and the construction projects were simultaneously purchased from various banks. loans were converted into long-term project finance loans. The Cutlass II Solar Power Plant is expected to generate EBITDA (earnings before interest, depreciation and tax) of 15 million USD on an annual basis.

The statement also said, "The Oriana Solar Power Plant project, with 232 MW solar and 60 MW storage capacity, which is the second investment of Sabancı Renewables Inc. in the USA and whose financing was successfully completed and announced to the public on March 29, 2024, is progressing as planned and will be commissioned in the second quarter of 2025." "With the commissioning of both projects, Sabancı Renewables Inc. will reach a total renewable energy portfolio of 504 MW in the USA, and efforts are continuing to further increase the total capacity." It was said.