Brief: Sabanci Holding Says Cutlass II Solar Power Plant Project Carried Out In US By Subsidiary Sabanci Renewables Was Completed And Commissioned At Full Capacity On May 17

Haci Omer Sabanci Holding

20/05/2024 06:05

May 20 (Reuters) - Haci Omer Sabanci Holding AS
 SAHOL.IS :
    * SABANCI HOLDING SAYS CUTLASS II SOLAR POWER PLANT PROJECT
WITH
AN INSTALLED CAPACITY OF 272 MW, CARRIED OUT IN US BY SUBSIDIARY
SABANCI RENEWABLES INC WAS COMPLETED AND COMMISSIONED AT FULL
CAPACITY ON MAY 17 AHEAD OF ITS SCHEDULE
    * SABANCI HOLDING SAYS FUNDING OF USD 184 MILLION TAX EQUITY
INVESTMENT WAS COMPLETED AND EXISTING CONSTRUCTION LOAN
FACILITIES WITH SEVERAL BANKS WERE SUCCESSFULLY CONVERTED INTO
LONG-TERM PROJECT FINANCING, AS OF MAY 17
    * SABANCI HOLDING SAYS COMMISSIONED CUTLASS II SOLAR POWER
PLANT
IS EXPECTED TO GENERATE USD 15 MILLION IN ANNUAL EBITDA
    * SABANCI HOLDING SAYS SABANCI RENEWABLES INC.'S ORIANA
SOLAR
POWER PLANT PROJECT WITH 232 MW SOLAR AND 60 MW STORAGE
CAPACITIES IS PROGRESSING AS PLANNED AND IS EXPECTED TO BE
OPERATIONAL IN H2 OF 2025
    * SABANCI HOLDING SAYS COMMISSIONING OF BOTH PROJECTS,
SABANCI
RENEWABLES INC. WILL REACH A TOTAL RENEWABLE ENERGY PORTFOLIO OF
504 MW IN US

Source text for Eikon:  ID:nIKA9PWyp0 
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