Turkey's Sabanci Holdings buys 272-MW solar project in Texas

Advanced Power AG, a Switzerland-based power infrastructure developer with an 8-GW renewables pipeline in the US, announced on Thursday it has sold a 272-MW solar project in Texas to a unit of Turkish conglomerate Sabanci Holdings (IST:SAHOL).

Specifically, Sabanci Renewables has acquired Advanced Power’s 100% interest in Cutlass Solar II LLC, which is developing the namesake photovoltaic (PV) project in Fort Bend County, about 40 miles southwest of Houston.

Cutlass Solar II is the Turkish conglomerate's first US energy venture, the announcement says. The 1,100-acre site is seen to enter the construction stage in the fourth quarter of 2022 and become operational in 2024. It will be selling energy and renewable energy credits into the ERCOT market.

Advanced Power completed the first phase of the Cutlass scheme, with a capacity of 140 MW, in July 2022. It is currently developing the 189-MW Talitha Energy, 232-MW Oriana Solar, 238-MW Eldora Energy, 190-MW Elio Energy and 245-MW Alina Energy projects for connection to the ERCOT power grid. The projects’ capacities are in direct current (DC) and all of them have the optionality to add battery storage.

Choose your newsletter by Renewables Now. Join for free!