REG-TotalEnergies SE Turkey: TotalEnergies Partners With Rönesans Holding to Develop Renewable Energy in the Country

TotalEnergies SEAnnouncement

24/07/2023 09:15

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Turkey: TotalEnergies Partners With Rönesans Holding to Develop Renewable
Energy in the Country

 

TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) has signed an agreement with
Rönesans Holding to acquire a 50% stake in Rönesans Enerji and jointly
develop, through this joint-venture, renewable projects in Turkey, which is a
liberalized growing electricity market.

Rönesans Enerji is currently operating a portfolio of 166 MW hydro assets.
The company has as well secured a pipeline of more than 700 MW of wind,
photovoltaic, and battery storage assets.

Leveraging TotalEnergies knowhow in onshore wind and solar development and in
electricity trading and Rönesans deep knowledge of the local electricity
market, Rönesans Enerji’s ambition is to produce 2 GW of renewable energy
by 2028.

The production generated by these sites will be marketed, notably by selling
it directly on the electricity market or by entering into power purchase
agreements (PPAs) with end-buyers. These projects, which are cost-competitive
given the quality of Turkey's renewable potential, are in line with the
Company's strategy of becoming an integrated player in the electricity
markets, taking advantage of price volatility, and will contribute to
achieving the Integrated Power Business Unit's double-digit profitability
targets.

“We are delighted to join forces with Rönesans, which has developed a
diversified portfolio of assets including wind, hydro and solar power. Given
the outlook for the Turkish market and the quality of the renewable sites in
the country, we are convinced that this new partnership will be a further step
towards our goal of developing our Integrated Power activity profitably. I'm
delighted that it will also help boost Turkey's renewable energy sector”,
said Stéphane Michel, President Gas, Renewables & Power for
TotalEnergies.

“We deeply value investments in renewable energy both in Turkey and
worldwide. With a goal of playing an active part in Turkey’s green energy
transition, it was crucial that we work with a reputable and impactful global
player. We’re excited to collaborate with TotalEnergies to jointly invest in
green projects. While adding a new partner to our global shareholders, we are
always excited to invest in our country”, said Erman Ilicak, Rönesans
Holding’s President.

The transaction is subject to regulatory and administrative approvals.

***

TotalEnergies and renewables electricity

As part of its ambition to get to net zero by 2050, TotalEnergies is building
a profitable portfolio of activities in electricity and renewables. At the end
of March 2023, TotalEnergies' gross renewable electricity generation installed
capacity was 18 GW. TotalEnergies will continue to expand this business to
reach 35 GW of gross production capacity from renewable sources and storage by
2025, and then 100 GW by 2030 with the objective of being among the world's
top 5 producers of electricity from wind and solar energy.

About TotalEnergies

TotalEnergies is a global multi-energy company that produces and markets
energies: oil and biofuels, natural gas and green gases, renewables and
electricity. Our more than 100,000 employees are committed to energy that is
ever more affordable, cleaner, more reliable and accessible to as many people
as possible. Active in nearly 130 countries, TotalEnergies puts sustainable
development in all its dimensions at the heart of its projects and operations
to contribute to the well-being of people.

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About Rönesans Holding

Rönesans Holding, headquartered in Ankara, is the 24th largest international
contracting company globally and the 8th in Europe* with international
operation in 30 countries across Europe, Central Asia, the Middle East and
Africa - including Ballast Nedam in the Netherlands and Heitkamp in Germany,
Rönesans has been operating as the main contractor and investor successfully
for 30 years across construction, real estate development, energy, healthcare
and industrial facilities. Putting resilience and growth through innovation at
the core of the company, with a priority on sustainability and social
development, Rönesans has developed projects supporting students with
scholarships, academic platforms and initiatives; been a signatory of the UN
Global Compact since 2015; and a signatory of the UN Women’s Empowerment
Principles since 2016.

Along with its partners IFC, GIC, Meridiam Infrastructure, Sojitz, Samsung
[and Total Energies], Rönesans has invested more than EUR7 billion into
pioneering projects in Türkiye. *According to Engineering News Record 2022,
World’s Top 250 International Contractors.

Cautionary Note

The terms “TotalEnergies”, “TotalEnergies company” or “Company” in
this document are used to designate TotalEnergies SE and the consolidated
entities that are directly or indirectly controlled by TotalEnergies SE.
Likewise, the words “we”, “us” and “our” may also be used to refer
to these entities or to their employees. The entities in which TotalEnergies
SE directly or indirectly owns a shareholding are separate legal entities.
This document may contain forward-looking information and statements that are
based on a number of economic data and assumptions made in a given economic,
competitive and regulatory environment. They may prove to be inaccurate in the
future and are subject to a number of risk factors. Neither TotalEnergies SE
nor any of its subsidiaries assumes any obligation to update publicly any
forward-looking information or statement, objectives or trends contained in
this document whether as a result of new information, future events or
otherwise. Information concerning risk factors, that may affect
TotalEnergies’ financial results or activities is provided in the most
recent Universal Registration Document, the French-language version of which
is filed by TotalEnergies SE with the French securities regulator Autorité
des Marchés Financiers (AMF), and in the Form 20-F filed with the United
States Securities and Exchange Commission (SEC).

TotalEnergies Contacts 

Media Relations: +33 (0)1 47 44 46 99 l presse@totalenergies.com
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Investor Relations: +33 (0)1 47 44 46 46 l ir@totalenergies.com
(mailto:ir@totalenergies.com)



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