Advanced Power, a Switzerland-based power producer, has declared the sale of a 232 MW DC solar project with significant storage capacity in Texas to the renewable’s unit of Turkish conglomerate Sabanci Holdings. The Oriana Solar complex, which spans 1,100 acres in Victoria County, is planned with a co-located 60 MW/120 MWh battery storage system.
Furthermore, construction on the project is set to begin in the first quarter of 2024, and operations are expected to begin in 2025. Reportedly, the Oriana Solar project has a $330 million investment. The plant will sell electricity and renewable energy credits into the Electric Reliability Council of Texas power market once it is functional.
In October 2022, Enercon and Enerjisa Uretim, a joint venture between E.ON and Sabanci Holding, agreed to install 1 GW of wind energy capacity at Turkey’s YEKA RES II project. Enercon had to provide the project with wind energy converter technology by delivering 240 of its E-138 EP3 E2 WECs over the next four years.
REGlobal’s Views: Sabanci already has a presence in the US renewable energy market through the 272 MW Cutlass II solar power plant. This recent acquisition will help the company reach a total of 500 MW of renewables capacity in the US and the company is focused on increasing its international renewable power portfolio. Further, Texas is a major investment destination for not only renewable energy but also energy storage, as it focused on maintaining grid stability. Thus, this acquisition of a storage assest will help Sabanci to capture critical market shares in the storage space as well.
