Sabancı Climate Technologies
In 2022, with the expansion of climate technology investments into the United States, it marked a pivotal moment for Sabancı Group's energy sector. Sabancı Climate Technologies, a wholly-owned subsidiary of Sabancı Holding, was established in 2022 with the aim of investing in renewable energy, particularly partnering with various venture capital funds and startups in the US and Europe. This new entity aims to leverage Sabancı Group's core competencies in the energy sector in new markets and shape the Group's future portfolio with early-stage climate technologies. Investment areas include fusion, geothermal energy, grid management, ESG software, and carbon accounting, essential segments of the energy value chain. Accordingly, investments have been made in companies such as Commonwealth Fusion, Quaise, Pulsora, Aidash, and others suitable for investment in these areas.
Sabancı Climate Ventures focuses on investing in startups and funds that aim to provide sustainable and clean energy solutions. One of the main objectives of Sabancı Climate Ventures is to ensure that Sabancı's portfolio keeps pace with future innovations in Energy and Climate Technologies, foster access and interaction with the innovation ecosystem, and explore new business model concepts.
Sabancı Renewables Inc., established by Sabancı Climate Technologies to build a renewable energy portfolio in the US, has completed the acquisition of two projects to establish solar power plants totaling 500 MW. In addition to the 272 MW Cutlass II solar power plant, which was commissioned and fully financed in the second quarter of 2024, the construction of Oriana Solar LLC in Texas includes a 232 MW solar power plant and a 60 MW energy storage facility. The Oriana Solar project is targeted to be commissioned in the second quarter of 2025. This development is seen as a significant milestone in the company's growth in the US market. Sabancı Renewables Inc. aims to maintain its investment appetite and build a substantial renewable energy portfolio in the medium term.