January 4, 2024

CRC-IB Advises Sabanci Renewables on $185M Tax Equity Financing for 272MW Solar Project

Sabanci Renewables Inc., the North American subsidiary of Sabanci Holdings, a leading Turkish industrial and financial conglomerate, has closed on $185M in tax equity financing for Project Cutlass II, a 272MW utility-scale solar project located in Fort Bend County, Texas. Tax equity investment for the project, Sabanci Renewables’ first in the U.S., was provided by Advantage Capital.

CRC-IB is pleased to have acted as exclusive financial advisor to Sabanci Renewables on the transaction, providing structuring, due diligence, and negotiation support.

“This transaction represents a remarkable milestone for Sabanci with their inaugural investment and entry in the U.S. energy sector,” said Michael Tatarsky, CRC-IB Managing Director and deal lead. “Sabanci is a top-tier Sponsor with a premier management team, and we are thrilled at the opportunity to support their global growth strategy in energy and climate technologies.”

For the full press release, please click here.


About Sabanci Renewables

Sabanci Renewables Inc. is a wholly owned subsidiary of Sabanci Holding, a leading Turkish conglomerate founded in 1967. Sabanci Holding is engaged in a wide variety of business activities through its subsidiaries and affiliates, mainly in the energy, banking, financial services, industrials, building materials, digital and retail sectors. Within its energy business, Sabanci has a strong reputation developing and operating energy projects, and currently operates 4 GW of diversified power plant portfolio in Turkey. Through Sabanci Renewables, energy arm of Sabanci Holding in United States, targeting to establish 1 GW of renewable portfolio consisting of utility-scale solar and on-shore wind projects all over U.S. by the end of 2025. Together with Cutlass II and its second utility-scale solar project investment, Oriana Solar, Sabanci Renewables owns 500 MW of capacity under construction. These significant investments demonstrate Sabanci’s unwavering commitment to clean energy solutions and its dedication to support a more sustainable future, globally. Learn more at https://www.sabanciclimatetech.com/.