TotalEnergies, Ronesans Greenlighted for Turkey Renewables JV
- TotalEnergies SE and Ronesans Holding joint venture will enable TotalEnergies to become one of the leading players in the Turkish renewable energy sector. European Commission approves of this agreement due to its limited impact in EEA.
This agreement will position TotalEnergies as one of the leading players in the Turkish renewables sector.
The European Commission (EC) has given its approval for TotalEnergies SE and Turkey’s Ronesans Holding to exercise joint control of Ronesans’ Ankara-based renewables entity. The French energy major is set to acquire a 50% stake in Ronesans Enerji from the Turkish holding company. The EC concluded that the deal will not raise competition concerns given its very limited impact on the European Economic Area.
The TotalEnergies-Ronesans joint venture will aim to reach 2 GW of renewables capacity by 2028. The JV will construct renewable power plants and sell their future output on the electricity market or through power purchase agreements. This agreement will enable TotalEnergies to become one of the leading players in the Turkish renewables sector.
Will TotalEnergies Become a Leading Player in Turkish Renewables?
- The joint venture, TotalEnergies-Ronesans, is aiming to reach 2 GW of renewables capacity in Turkey by 2028.
- The JV will build renewable energy plants and sell their output through either the electricity market or with power purchase agreements.
- TotalEnergies will acquire a 50% stake in Ronesans Enerji from the Turkish holding company, Ronesans Holding.
- The European Commission has approved the agreement, as it will not raise competition concerns in the European Economic Area.
- This agreement will position TotalEnergies as one of the leading players in the Turkish renewables sector.
- In order to become a leading player in Turkish renewables, TotalEnergies will need to successfully build out the 2 GW of renewables capacity by 2028.
- To remain competitive, TotalEnergies-Ronesans will need to ensure their output is competitively priced and able to meet the needs of Turkish businesses and households.
