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Main Page arrow News arrow Rönesans's target is to be a top 3 green energy company
Sustainability

Rönesans's target is to be a top 3 green energy company

07 August 2023
By establishing a partnership with TotalEnergies, Rönesans Enerji aims to become one of Türkiye's leading companies in green energy. İpek Ilıcak Kayaalp, Chair of the Board of Directors of Rönesans Holding, said, "With the partnership between Rönesans Holding and TotalEnergies, we, at Rönesans Enerji, aim to invest a total of 2,000 MW of installed capacity in the next 5 years. This partnership represents an extremely positive step towards achieving our goal of becoming one of the top 3 green energy companies in Türkiye.”
Operating in a total of 30 countries, including Türkiye, Rönesans Holding generates approximately 70 percent of its turnover from overseas operations. The company ranks 24th globally, 8th in Europe, and 1st among Turkish contractors in the 2022 "World's Top 250 International Contractors" list published by Engineering News-Record (ENR).

ON THE FIELD IN 30 COUNTRIES IN ITS 30TH YEAR

İpek Ilıcak Kayaalp, Chair of the Board of Rönesans Holding, which celebrates its 30th anniversary this year, highlighted that they employ more than 30 thousand employees from 64 different nationalities under the Holding company’s umbrella before stating: "We operate in 30 countries in Europe, Central Asia, the Middle East, Africa, and the Middle East, although we primarily focus on Türkiye and the Netherlands. We are the main contractor and investor in 5 business lines: construction, real estate, public-private-partnership, energy, and petrochemicals."

During the conversation with İpek Ilıcak Kayaalp, Emre Hatem, Vice Chair of the Board of Rönesans Enerji, and Emre Baki, Member of the Board of Rönesans Holding, the two main agenda items were TotalEnergies' partnership in Rönesans Enerji and the EUR 781 million loan agreement from UKEF for the Mersin-Adana-Gaziantep (MAG) High-Speed Railway project. İpek Ilıcak Kayaalp shared that the loan amount coordinated by Rönesans to the Treasury for the second agenda item is EUR 923 billion in total. Rönesans Holding will use the loan support to complete the construction of a high-speed electric railway connecting Mersin to the cities of Adana, Osmaniye, and Gaziantep (MAG).

ONE OF RÖNESANS' STRONGEST CHARACTERISTIC IS ITS ABILITY TO SECURE FINANCING

"One of the strongest characteristics of Rönesans is its ability to secure financing," İpek Ilıcak Kayaalp said: "Global collaborations are crucial for us. The most important thing is to establish the right collaborations. We develop long-term trust-based relationships with our business partners. France-based Meridiam, Japanese Sojitz, and South Korea's Samsung C&T are among our esteemed business partners. We act together with financiers such as EBRD and shareholders such as IFC and GIC. We are mobilizing our global experience for our country.”

"WE REALIZED EUR 7 BILLION WORTH OF PROJECTS"

"The TotalEnergies partnership, which we signed last week, and the loan and insurance agreement we secured for the MAG high-speed railway project at the signing ceremony last week are the most recent examples of this. For MAG, we are working with lenders and guarantors such as UKEF, SACE, JP Morgan, ING, and BNP Paribas. To date, we have realized approximately EUR 7 billion worth of investment projects in Türkiye with our local and foreign partners, and we have brought a total of EUR 2 billion of foreign direct investment to our country.”

"WE HAVE A 100 PERCENT GREEN ENERGY PORTFOLIO"

İpekOperating in a total of 30 countries, including Türkiye, Rönesans Holding generates approximately 70 percent of its turnover from overseas operations. The company ranks 24th globally, 8th in Europe, and 1st among Turkish contractors in the 2022 "World's Top 250 International Contractors" list published by Engineering News-Record (ENR).

PLEDGE TO REDUCE EMISSIONS BY 55 PERCENT BY 2030!

Stating that these green energy investments are extremely valuable regarding sustainability goals, İpek Ilıcak Kayaalp said, "We embrace sustainability with all our strength to contribute to a better future. We continue all our work with the goal of net zero emissions by 2040. In this context, we have established an interim target for 2030 to decrease our emissions by 55% compared to 2022. Our company Ballast Nedam in the Netherlands, is working towards achieving CO2-neutral construction sites by 2030.

HATEM: TÜRKİYE NEEDS USD 15 BILLION OF INVESTMENT PER YEAR FOR 30 YEARS TO REACH NET ZERO EMISSIONS TARGET

Emre Hatem highlighted that Türkiye needs an annual investment of USD 15 billion for the next 30 years to reach its 2053 net zero emission target. Türkiye is currently investing USD 5 billion annually in the energy sector. He said, "Together with TotalEnergies, we aim to realize approximately 7 percent of the green energy investments envisaged in Türkiye's National Energy Plan until 2028. Thanks to these investments, we will prevent the import of approximately 1 billion cubic meters of natural gas annually and save 3.5 million tons of greenhouse gas emissions. Our new investments are mainly planned for wind and solar energy. We will also focus on investing in storage technologies.”

TOTALENERGIES ACQUIRES 50 PERCENT OF RÖNESANS ENERJİ

Emphasizing that Rönesans Enerji will only continue growing with green energy investments, Emre Hatem said, "We wanted to expand our 100 percent green energy portfolio with strong business partnerships. Ultimately, we signed a giant partnership that will contribute to Türkiye. TotalEnergies acquired a 50 percent stake in Rönesans Enerji, a subsidiary of Rönesans Holding. We have suspended the IPO process of Rönesans Enerji for the time being due to the new partnership. We may re-evaluate this issue with our partner TotalEnergies, in the future. A partnership with Rönesans Holding and TotalEnergies, Rönesans Enerji aims to invest a total of 2,000 MW of installed capacity over 5 years. This partnership represents an extremely positive step towards achieving our goal of becoming one of the top 3 green energy companies in Türkiye. Rönesans Enerji already has a renewable energy portfolio with an installed capacity of 166 MW and currently has a project stock of approximately 743 MW consisting entirely of wind and solar energy. We will start investing in 182 MW of this quantity in a few months. We expect to commission this investment by the end of 2024.”

"WE MOBILIZE OUR GLOBAL EXPERIENCE FOR TÜRKİYE"

İpek Ilıcak Kayaalp said the following about the future targets of Rönesans Holding:
"We do not focus on a single country or region with our growth plans. Doing 'firsts' and 'bests' in different world geographies always excites us more. However, Europe will be the region where we will grow the most in the coming period. We are proud to mobilize our global experience for our country. Rönesans has its signature on numerous projects such as Gotthard Base, the world's longest and deepest railway tunnel; Lakhta Center, the tallest building in Europe; the world's first and largest GTG plant producing gasoline from natural gas; and Başakşehir Çam Sakura Hospital, the world's largest seismically isolated building. In addition to these projects, we have been focusing on the fields of energy, petrochemicals, and infrastructure due to Türkiye's needs and the clear potential in these areas. In Adana, we are building a polypropylene production facility with an investment size of approximately USD 1.8 billion, which we developed in partnership with Algeria's national state-owned oil company Sonatrach. We will also develop a container port project in Adana, which we plan to realize with an investment size of approximately USD 1 billion dollars.” Ilıcak Kayaalp shared details about the partnership between Rönesans Holding and TotalEnergies before saying, "At Rönesans Enerji, we have a 100 percent green energy portfolio, and we will continue to do so. We want to contribute to Türkiye's green energy transformation. At Rönesans Enerji, our ESG rating is B. We have also earned the 'prime label' given to companies that receive a rating above the sector average. We aim to continue improving our rating.”

Source
: Habertürk





About Rönesans Group

Rönesans Holding, the conglomerate's top investment entity headquartered in Ankara, is the 38th largest international contracting company globally and the 9th largest in Europe. With operations spanning 30 countries across Europe, Central Asia, and Africa, including subsidiaries such as Ballast Nedam in the Netherlands and Heitkamp Industrial Solutions GmbH in Germany, Rönesans has been operating as the main contractor and investor successfully for 30 years in construction, real estate development, healthcare and energy. 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.

Under the leadership of its president, Erman Ilıcak, Rönesans, along with its partners GIC, Meridiam Infrastructure, Sojitz, Samsung C&T, TotalEnergies, and IFC of the World Bank Group (minority shareholder in the group), has invested more than EUR8 billion into pioneering projects globally.


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