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Main Page arrow News arrow Substantial financing secured! Investments to take off!

Substantial financing secured! Investments to take off!

07 August 2023
"We are mobilizing our experience for our country," said İpek Ilıcak Kayaalp, Chair of the Board of Rönesans Holding, which has just secured two substantial financings in a row, as Türkiye enters a period of improved relations in the international arena.
İpek Ilıcak Kayaalp, the Chair of the Board of Directors of Rönesans Holding, which recently signed two substantial deals in the energy and railway sectors with financing close to EUR 1 billion as well as realized its most significant volume of transactions in the post-election period, stated that the total amount of loans coordinated by the group to the Treasury reached EUR 923 million in total. She continued by saying: "Rönesans Holding will use this loan to complete the construction of the high-spewed electric railway connecting Mersin to the cities of Adana, Osmaniye, and Gaziantep (MAG).”

The two aforementioned deals were TotalEnergies' 50 percent shareholding in Rönesans Enerji and the loan agreement from UKEF for the Mersin-Adana-Gaziantep (MAG) High-Speed Railway project.

"One of our strongest characteristics..."

"One of the strongest characteristics of Rönesans is its ability to secure financing," said İpek Ilıcak Kayaalp, "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."

Operating in a total of 30 countries, including Türkiye, Rönesans Holding currently generates approximately 70 percent of its turnover from overseas operations. It ranks 1st among Turkish contractors conducting business globally. İpek Ilıcak Kayaalp remarked that Rönesans employs more than 30 thousand employees from 64 different nationalities under the holding company's umbrella. These two agreements were the main agenda items of the conversation with İpek Ilıcak Kayaalp, Rönesans Enerji Vice Chair of the Board Emre Hatem, and Rönesans Holding Board Member Emre Baki.

Green energy move

İpek Ilıcak Kayaalp said, "To date, we have realized approximately EUR 7 billion worth of investment projects in Türkiye with our domestic and foreign partners, and we have brought a total of EUR 2 billion of foreign direct investment to our country. At Rönesans Enerji, we have maintained a 100 percent green energy portfolio, and we will continue to do so. We want to contribute to Türkiye's green energy transformation."
Stating that these green energy investments are extremely valuable regarding sustainability goals, İpek Ilıcak Kayaalp said: "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."

'Installed Power' plan: 2,000 MW in the next 5 years

According to Emre Hatem, who has shared crucial data on the energy sector, 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 5 billion dollars annually in the energy sector.
Emphasizing that Rönesans Enerji will only continue to grow 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. With this new partnership, we aim to invest in a total installed capacity of 2,000 MW 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. Rönesans Enerji, which has a renewable energy portfolio with an installed capacity of 166 MW, 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.

 : Milliyet

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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